Copper headed for the biggest weekly advance since April — with prices about 5% below the record set last year — as supply disruptions, a weaker US dollar, and optimism about demand supported gains.
Three-month futures climbed for a third day to top $10,500 a ton on the London Metal Exchange, more than 3% higher this week. The rally has been aided by a series of supply setbacks, including Freeport-McMoRan Inc.’s declaration of force majeure at the giant Grasberg mine in Indonesia.