Copper held above $6,000 a tonne yesterday, returning to levels seen at the beginning of the year as the dollar retreated and equity markets in China rallied.
The metal used in wiring and power cables fell to its lowest level in five years in mid-January as demand in China weakened before the new year holiday and short sellers pushed down the metal.
That sentiment has temporarily eased over the past week after remarks from the Federal Reserve capped the dollar’s dramatic rise and stocks in China traded near a seven-year high on expectations of government stimulus.
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