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MINERS processing copper at one of the mines on the Copperbelt.

Copper price drops on LME

THE price of copper on the London Metal Exchange (LME) on Friday depreciated on the back of the strengthened United States dollar.

According to Reuters, last three-month copper was down by 0.3 percentage point to US$7,067 a tonne by 07: 22 Greenwich Mean Time, having slipped 0.6 percentage point earlier in the session.

“London copper prices edged lower on Friday as the dollar strengthened slightly and wage agreements at mines in Chile eased concerns about supply disruptions in the world’s top producer of the metal,” Reuters reports.
A rising US currency makes dollar-denominated commodities more expensive for non-US firms but copper remains on course for a weekly gain of 2.7 percent and a close above US$7,000 per tonne on…