Copper Edges Up Amid Dollar Weakness, Tight Supplies

Copper prices rose modestly on Friday as investors took advantage of a weaker dollar and tighter supplies in China, but gains were limited due to concerns about rate hikes.

The London Metal Exchange's benchmark three-month copper contract increased by 0.2% to $14,645 per metric ton, a 0.8% rise from last week's close.

Nitesh Shah, commodity strategist at WisdomTree, said that some pressure points in the market were easing, but investors are becoming more risk-averse due to inflationary concerns and bond market volatility.

Shah believes that demand for base metals may surprise to the upside rather than the downside, as rate hike expectations have been overplayed.