FQVLF - Copper caps strong weekly rise as China optimism builds

Copper prices on Friday appear headed for their best weekly gain since early January on demand optimism as data showed Chinese factory activity increased in February at the fastest pace since 2012.

According to Reuters, London Metal Exchange benchmark copper ( HG1:COM ) recently +0.7% at $9,020/metric ton, ~3.5% higher for the week.

ETFs: ( NYSEARCA: COPX ), ( NYSEARCA: CPER ), ( JJC ), ( JJCTF )

Potentially relevant stocks include Freeport McMoRan ( FCX ), Southern Copper ( SCCO ), Teck Resources ( TECK ), Hudbay Minerals ( HBM ) and First Quantum Minerals ( OTCPK:FQVLF ).

Goldman Sachs analysts do not see a sustained rally for copper and other industrial metals absent clear signs of stockout risk, until The U.S. Federal Reserve has clearly brought inflation to heel.

Aluminum, lead, nickel and zinc also traded higher on the LME, while tin fell.

Teck Resources ( TECK ) recently unveiled plans to spin off its steelmaking coal unit, creating two independent, publicly-traded companies .

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