Positive signals are driving copper prices to achieve four consecutive weekly gains.

Boosted by positive economic data from the world's two largest economies, copper prices are heading towards a fourth consecutive weekly gain. On Friday, copper prices rose slightly, approaching the highest level in nearly a month, with other major commodities on the London Metal Exchange also rising in synchrony. As a "barometer" of economic trends, copper prices this month have shown relatively narrow fluctuations, but have been supported by a weakening US dollar. Recent US economic data showed that the economy is growing faster than initially estimated, driven by increased business investment and trade growth. The data also highlighted the resilience of consumer spending. In China, the narrowing decline in industrial profits in July suggests that measures taken to curb overcapacity may be starting to alleviate the pressure of intense competition among producers, which in turn could improve demand for industrial metals. Copper, along with aluminum, nickel, and other metals, has seen gains of over 2% in August, while prices of lead, zinc, and other metals have also risen slightly. Analysts led by Michelle Leung at Bloomberg Intelligence stated in a report released on Friday, "Given the continued bearish outlook on the US dollar, it seems likely that copper, aluminum, and other metal prices may see a short-term uptrend." They added that recent fluctuations of the US dollar against other G20 currencies are "unlikely to change the trend of a weakening US dollar in the second half of the year." Copper prices on the London Metal Exchange rose by 0.8% to $9,898 per ton, with a potential increase of 1% for the week; aluminum prices rose by 0.3%, and zinc prices rose by 1.1%.