Markets
London copper rises as US infrastructure deal fans demand hopes
- US President Joe Biden embraced a bipartisan Senate deal to spend hundreds of billions of dollars on infrastructure projects
HANOI: Copper prices in London rose on Friday, on track for a weekly gain, as a US infrastructure deal boosted hopes for stronger demand of the red metal.
Three-month copper on the London Metal Exchange advanced 0.5% to $9,461.50 a tonne by 0318 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange eased 0.1% to 68,960 yuan ($10,666.34) a tonne.
US President Joe Biden embraced a bipartisan Senate deal to spend hundreds of billions of dollars on infrastructure projects, building roads, bridges and highways in an expanded effort to stimulate the American economy.
Copper is widely used in infrastructure projects.
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