MELBOURNE/BEIJING: Shanghai Futures Exchange copper closed up 0.1 percent at 53,580 yuan ($8,070.98) a tonne on Friday as a weaker dollar broadly lifted base metals, although it remained on track for a weekly loss.

“Copper prices will continue to trade sideways over the coming weeks as a stronger US dollar outlook and weakening Chinese imports of refined copper weigh on prices,” said BMI Research in a report.

“High-frequency indicators such as stable stock levels, a persistently negative cash to 3-month spread and a global monthly surplus registered in August imply the copper price rally is overdone compared to near-term fundamentals.”—Reuters