Copper prices edged higher in early trading, supported by a fourth consecutive weekly decline in inventories and a softer U.S. dollar.
The London Metal Exchange’s three-month copper contract increased 0.6% to $9,493 per metric ton, while the U.S. dollar index dropped 0.75% to 100.33, boosting commodity demand for holders of other currencies.
However, gains were tempered by ongoing uncertainty over trade negotiations, following recent U.S. warnings to countries perceived as negotiating in bad faith. The outcome of these talks could influence the global copper market moving forward.