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.
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.