Shanghai copper up

The most-traded copper contract on the Shanghai Futures Exchange ended 0.52 percent firmer at 48,000 yuan ($7,097) a tonne on Friday as a weak dollar helped lift copper prices above $6,000 a tonne in Asian trading on Friday, erasing an overnight dip and setting the stage for a strong start to the London market. ShFE aluminium ended down 0.21 percent.
The dollar index, which tracks the greenback against a basket of six major rivals, was priced near its lowest level since August 2016. A hobbled dollar coupled with a positive Chinese outlook for metals demand on Monday lifted copper above the psychologically key $6,000 mark for the first time since March 2. The global world refined copper market showed a 53,000 tonnes deficit in April, compared with an 18,000 tonnes deficit in March, the International Copper Study Group (ICSG) said.