LME copper eyes biggest weekly drop in 15 mths on China sale plan, dollar

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HANOI, June 18 (Reuters) - London copper prices were set on Friday for their biggest weekly fall since March 2020 as the dollar firmed on the prospect of U.S. interest rate hikes and after China announced a plan to sell part of its reserves of the metal.

Three-month copper on the London Metal Exchange was down 0.8% at $9,242.50 a tonne by 0710 GMT, pushing its loss for the week to 7.6% and putting it on track for its steepest weekly fall since March last year, when the coronavirus hit demand.

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https://www.reuters.com/article/global-metals/metals-lme-copper-eyes-biggest-weekly-drop-in-15-mths-on-china-sale-plan-dollar-idUSL2N2O00B5