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TRUCKS with copper at the Zambia-Botswana Kazungula Border Post. PICTURE: EDDIE MWANALEZA

Copper price on LME soars

THE price of copper on the London Metal Exchange (LME) yesterday rose as the United States dollar fell to a multi-year low, making greenback-priced metals cheaper and more appealing to buyers holding other currencies.
According to Reuters, three-month copper on the LME rose by 0.2 percentage point to US$7,872 a tonne, while the most-traded February copper contract on the Shanghai Futures Exchange dipped by 0.3 percentage point to 58,400 yuan (US$8,952) a tonne.
Copper is Zambia’s major foreign exchange earner.
In the foreign exchange market, the Kwacha on Tuesday held steady against the US dollar as the greenback appetite from the energy, agriculture and CLICK TO READ MORE