KALONDE NYATI, NKOLE MULAMBIA
Lusaka
THE price of copper, which has since last month been on an upward trend, on Friday continued to rise, hiting US$8,229 a tonne.
Three-month copper on the London Metal Exchange (LME) rose 0.6 percentage point to US$8,229 a tonne , up by six percent on a weekly basis.
“London copper prices on Friday were set for their biggest weekly rise since July last year, on hopes for more stimulus from the United States,” Reuters reports.
Similarly, the most-traded February copper contract on the Shanghai Futures Exchange advanced 2.2 percent to 60,440 yuan (US$9,344.61) a tonne.
In the foreign exchange market, the local unit on Thursday continued to struggle for support as the market was skewed towards the CLICK TO READ MORE
Now copper fetching $8,229 a tonne
