Copper prices saw an Rise on Friday as the dollar pulled back from a two-month high
Net Long Positions Drive Copper’s Six-Month High on LME
Copper settled up at 723.90 yesterday, driven by net long positions on the London Metals Exchange (LME) reaching a six-month high.
The total net long position in LME copper reached 9,488 contracts on Aug. 11, marking the highest level since Feb. 10 according to the Commitments of Traders Report.
China’s refined copper production in July increased by 14.5% YoY to 1.03 million metric tons. Daily average copper output during July stood at 33,226 tons.