KONTAN.CO.ID - BEIJING. London copper prices were back on an uptrend on Thursday, supported by firm market fundamentals and a retreat in the U.S. dollar. Three-month copper on the London Metal Exchange moved 0.5% higher to $9,422.50 per metric ton by 0349 GMT, reversing losses in the previous session. The contract declined on Wednesday after U.S. inflation data rose more than expected in March, pushing out the expected timing of a first rate cut to September from June.
Copper Supported by Firm Demand, Disruptions in Supply
KONTAN.CO.ID - BEIJING. London copper prices were back on an uptrend on Thursday, supported by firm market fundamentals and a retreat in the U.S. dollar. Three-month copper on the London Metal Exchange moved 0.5% higher to $9,422.50 per metric ton by 0349 GMT, reversing losses in the previous session. The contract declined on Wednesday after U.S. inflation data rose more than expected in March, pushing out the expected timing of a first rate cut to September from June.