Copper Prices Near Six-Week High Amid Weaker Dollar, Rising Industrial Profits, and Short-Covering Rally

Copper prices are approaching a six-week high, supported by a weaker dollar and rising industrial profits in China. Analysts suggest that the worst of the recent correction in copper prices may be over, with expectations for prices to trade within a range exhibiting a slight upward bias. Market volatility and tightening spreads have also contributed to a short-covering rally, further bolstering the metal's value. The rise in copper prices is significant as it reflects broader economic conditions, often referred to as the 'glue of the economy.'