Weaker Dollar Lifts Copper Amid Tight Chinese Supplies

Copper prices have been boosted by a weaker dollar and tight supplies in China, but gains are modest due to investor concerns about potential rate hikes.

The London Metal Exchange saw benchmark three-month copper rise 0.2% to $14,645 a metric ton on Friday, a 0.8% increase from last week's close.

Nitesh Shah, commodity strategist at WisdomTree, said that some pressure points are coming off, but people are getting risk-averse in this environment.

David Wilson, head of metals strategy at BNP Paribas, noted that visible inventories in China have dropped off significantly due to smelters announcing reduced production schedules for maintenance.