Base metals prices rose on Friday, tracking gains in the equities market and supported by rate cut hopes and better-than-expected U.S. data that relieved some demand worries. Three-month copper on the London Metal Exchange rose 1.4% to $8,915 per metric ton by 0408 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange advanced 1.4% to 71,920 yuan ($10,022.44) a ton. U.S. jobless claims dropped more than expected last week, softening fears of a looming economic downturn that will dampen physical metal demand. Still, U.S. Federal Reserve policymakers are increasingly confident that inflation is cooling enough to allow interest-rate cuts ahead, which is supportive for metals prices.
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