The prices of copper firmed on Friday, supported by a weaker dollar against the euro, stronger investment demand and worries about supplies from Chile.
According to Reuters, benchmark copper on the London Metal Exchange (LME) was trading at $9,716 a tonne from $9,685 a tonne on Thursday, when the metal used in power and construction fell to its lowest level.
The dollar fell against the euro, making metals priced in the U.S. currency cheaper for holders of other currencies.
An agreement by euro zone leaders on a second rescue package for debt-stricken Greece helped boost the euro and investor sentiment for economic growth and demand.
Union workers at the world's top copper mine, Chile's Escondida, started a 24-hour strike on Thursday over a series of wage contract demands that if not met could lead to an indefinite work stoppage.
Markets are also watching debt talks in the United States, the world's
largest economy, which on Friday enter crunch time, with President Barack Obama and top lawmakers engaged in a sometimes chaotic drive to strike a sweeping deficit-reduction deal.
China is the world's largest consumer of copper, accounting for about 40 per cent of global consumption estimated at around 21 million tonnes this year.
In an attempt to rein in persistently high inflation, Beijing has increased interest rates five times since October.
Shrinking factory activity in China weighed on prices on Thursday as did rises in copper stocks held in London Metal Exchange warehouses, which at 472,325 tonnes are up more than 10,000 tonnes since July 11.
