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Copper rose on Friday, China's imports boost little
Views:  Date:2015-11-06 10:18:07

REUTERS MELBOURNE, Oct 23 (Reuters) - Copper prices rose Friday, but this week is still the biggest fall in four weeks, with China's imports increasing only as a modest rebound in copper prices amid an abundant supply of copper.


"I do not think the price of copper is going to be much higher than the current price point," Judd Zhu, an analyst at Standard Chartered, said. "The order we've seen so far has been very weak, and even the orders that have been reported this month have not improved."


"The September-October period is usually the peak demand season, but this year the situation is completely different, so I will be very cautious about the rebound in demand for copper, copper demand in the fourth quarter may be very weak."


0722 GMT, the London Metal Exchange (LME) three-month copper rose 0.8 percent to 5,276 US dollars per ton, extending the day before the rally. However, weekly material fell about 0.5%.


Since the end of August fell to a six-year low, copper prices rebounded all the way to 4,800-5,400 US dollars range.


Shanghai copper rose 1.6 percent to 39,700 yuan per ton.


Other metals, London aluminum futures fell 5% this week, Friday fell to 1,500 US dollars per tonne below the six-year low. Over the past month, Shanghai aluminum fell almost every day, again and again set a record low. 

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