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LONDON- Copper and aluminum prices rose on Friday, supported by thin inventories, but worries that central bank rate hikes would curb growth and metal demand capped gains.
Three-month copper on the London Metal Exchange (LME) had added 0.1 percent to $9,838 a ton, putting it on track to gain more than 3 percent this week.
The US economy created far more jobs than expected in January despite the disruption to consumer-facing businesses from a surge in COVID-19 cases, data showed.
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“Intensifying labor market inflation pressures and strong employment growth … only makes it more likely that the Fed will embark on an aggressive series of interest rate increases,” James Knightley at ING said in a note.
