Copper Prices Climb on Softer Dollar, Tight Supply

Copper prices have risen on Friday due to a softer US dollar after weak jobs data and tight supply. The London Metal Exchange's benchmark three-month copper price climbed 0.9% to $14,374.50 per metric ton by 1405 GMT.

This marks a decline of about 2% since the end of last week. Neil Welsh, head of metals at broker Britannia Global Markets, noted that 'metals have seen light turnover again so far this session with copper finding some support with a slightly softer dollar, but the broader tone remains cautious.'

The US dollar index dropped after US jobs growth slowed more than expected in September. This prompted traders to reduce their bets on further US rate hikes, making commodities priced in the US currency cheaper for buyers using other currencies.