Business

Now copper fetching $8,229 a tonne

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



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