LME copper hit a more than two-year high on Friday

At 17:00 London time on September 18 (00:00 Beijing time on September 19), three-month copper rose $32, or 0.
47%, to close at $6,812.
5 a tonne, after the contract touched $6,850 a tonne intraday, the highest
since June 2018.
Copper prices have risen 55% since hitting a 45-month low in March, and this week copper prices are up
for the sixth straight week.

Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen, said: "The strong market we're seeing now is amazing
.
This is indeed a Chinese theme, and it is also related to
the overall momentum of the commodity market.

"As long as we stay above the key ascending trend line, which is at $6,700 a tonne today, there is no reason for speculators to make any adjustments, and they have accumulated considerable long copper positions
.
"

Data released this week showed that China's industrial output rose the most in eight months in August, while the OECD raised its forecast
for China's economic growth.

The dollar index fell as uncertainty over the U.
S.
election, gloomy U.
S.
economic data clouded the economic outlook and the latest U.
S.
-China political tensions, while a weaker dollar typically means dollar-denominated commodities become cheaper
for investors holding non-U.
S.
dollar currencies.

China's spot copper premium continued to weaken, falling $4.
50 to $59 a tonne on Friday, the lowest level since early April, extending a decline since a high of $100 hit six weeks ago
, the data showed.

Brokerage firm Triland said in a report that China's copper liters will fall
further before the seasonal recovery in demand at the end of this month after high imports have caused abundant domestic inventories.