Copper Advances as Dollar Weakens
Copper futures climbed toward $6.60 per pound on Friday, snapping a three-session losing streak as the US dollar weakened amid concerns over a potential slowdown in the AI capital expenditure boom that has supported the American economy and financial markets. A softer dollar makes greenback-denominated commodities such as copper more affordable for overseas buyers, helping ...
Copper prices rose to $6.60 per pound on Friday, ending a three-day decline, as the US dollar weakened due to worries about a potential slowdown in AI-related capital spending that has fueled the US economy and financial markets. The decline in the value of the dollar makes copper more affordable for international buyers, which helps boost demand.
This favorable situation was also driven by reduced supply, as labor disputes and bad weather caused disruptions in mining activities in Chile, the world's biggest copper producer. Strikes affected major mines run by BHP Group and Antofagasta Plc, while adverse weather conditions troubled open-pit operations at Codelco's El Teniente mine.
Demand for copper kept growing from robust forecasts for data centers, semiconductors, and battery storage systems.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
