London copper rise on Biden infrastructure deal

London copper prices rose on Friday as a US infrastructure deal raised hopes of better demand for metals in the coming years, although the gains were capped by weak consumption.

Three-month copper on the London Metal Exchange advanced 0.4% to $9,459 a tonne by 0718 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange closed down 0.5% to 68,700 yuan ($10,644.73) a tonne.

Copper for delivery in July fell 1% from Thursday’s settlement price, touching $4.269 per pound ($9,391 per tonne) midday Friday on the Comex market in New York.