Copper surges on trade hopes

COPPER had its best one-day gain since September on Friday on hopes the US and China are closer to a trade deal.

Copper surges on trade hopes Copper surges on trade hopes Copper surges on trade hopes Copper surges on trade hopes Copper surges on trade hopes

The red metal jumped by more than 3.5% to US$6319 per tonne, around a six-week high.

It comes after US President Donald Trump tweeted on Thursday that he'd had a good discussion with Chinese President Xi Jinping on trade.

Better-than-expected US employment data also helped sentiment for copper.

"The impact of the trade tensions on supply and demand has been very limited thus far," Julius Baer Group commodities analyst Carsten Menke told Bloomberg.

"It has been much more pronounced on market sentiment, which shifted from excessively bullish to rather bearish."

Nickel and lead were also positive, rising by more than 1% each.

Despite the chance of a US interest rate rise increasing from 71% on Thursday to 75.3% after the jobs...

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