Copper Rebounds With Industrial Metals After Yuan Erases Decline
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Base metals prices won a reprieve from their recent collapse after the dollar sank against the yuan late in Friday’s Asian session.
Copper in London rebounded as much as 0.8 percent from the lowest level in a year as the yuan wiped out a steep retreat amid speculation Chinese authorities were seeking to cool its decline. Zinc and nickel rose by more than 1 percent, while copper in Shanghai erased losses to end only slightly lower.