The rise in the price of copper gain momentum amid the fear of supplies and the weakness of the dollar

Copper prices will achieve the biggest weekly profits since April, with a decrease of only 5% from the record recorded last year, with the support of supplies and poor US dollar and optimism about demand. The future contracts jumped for three months for the third day in a row for $ 10500 per tonne on the London Metal Stock Exchange, which registered an increase of more than 3% this week. The rise in prices has come as a result of a series of obstacles in supplies, including the statement of “FreePort-McMoran” business on the status of the Force Majeure in the enormous Grasburg mine in Indonesia. Also read: The price of buyer continues with the profits with the market to take up the “Fribport” mining, the high price of buyer despite the trade war, has risen copper prices by 20% this year, despite the concern that the US trade war could combat global growth. The rise in copper prices also came in collaboration with the resumption of the Federal Reserve that lowered interest rates, which damaged the dollar and made the commodities in the currency more attractive to non -American buyers. At the same time, optimism over the demand for buyer for its use in the transformation of the energy field as well as in data centers to support artificial intelligence. Future contracts increased by 0.4% to 10531 dollars per tonne on the London Metal Stock Exchange, which is equal to the peak circulation on Thursday, which was the highest since May 2024. Other basic metals also performed well this week, as zinc prices rose by more than 4%, which recorded the highest level on Thursday. Meanwhile, tin prices have risen by 7% amid concerns about supplies from Indonesia. Futures of Iron stabilized in Singapore at $ 103.70 per ton, and did not change much this week. Chinese financial markets remain closed on the occasion of a national holiday.