Copper price hits two-week high as dollar weakens

Copper prices rose on Tuesday, reaching a two-week high in London, supported by a recent drop in the US dollar.

A Bloomberg gauge of the dollar fell to a 15-month low on Monday. A softer dollar makes commodities cheaper for buyers using other currencies.

LME copper rose as much as 1.6%, trading at $9,305 a tonne by 9:54 a.m. local time. On the COMEX, copper for May delivery climbed to $4.834 per pound ($10,634 per tonne) in morning trading.

Metals have faced a turbulent April amid global trade uncertainty sparked by US President Donald Trump’s sweeping import tariffs.

While the trade tensions threaten economic growth — and with it, metal demand — a weaker dollar is providing some support.

Who controls the future of copper mining?

MINING.COM and The Northern Miner mapped global copper production through a geopolitical lens, dividing the world into five “spheres of control”: American, Chinese, Russian, Coalition of the Willing, and Undrafted.

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