LME Copper prices traded higher by 0.2 percent yesterday and traded near two week high on the back of optimism regarding the two biggest consumers, the US and China. Also, weakness in the DX along with upbeat market sentiments supported gains.
In addition to that, favorable economic data from the US and UK acted as positive factors. Further, decline of 0.4 percent in inventories to 160,000 tonnes added an upside to prices. The red metal touched an intra-day high of $6745/tonne and closed at $6734.5/tonne on Thursday.
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