London Metal Exchange base metals prices recovered swiftly at the close of Friday June 4 after lighter-than-expected US employment data kicked down the dollar index, following a Thursday session where decreases averaged 2.5%.
Copper's three-month price rebounded to $9,955 per tonne on Friday at the close, a 1.7% rise from Thursday's $9,788.50 per tonne 5pm price. At the same time on Thursday, the price had fallen by 3.5%.
The copper price was at its lowest since the last week of April on Thursday due to positive US employment data that made the dollar index jump to 90.55 - the highest since May 14 - since it triggered renewed nervousness around the Federal Reserve changing its stance on supportive economic measures.
Nevertheless,...