Copper posted its best weekly performance since late February on Friday, helped by strong first-quarter earnings results in the United States and by receding debt concerns in Europe.
Copper jumped 2 percent on Friday to be near the top of winners in the 19-commodity Thomson Reuters-Jefferies CRB Index .CRB. It gained ground alongside equities and the euro after an unexpected rise in German business sentiment bolstered investors' appetite for risk.
London copper prices sustain a recovery from three-month lows hit earlier this week and had them hold well above the psychological $8,000 per metric ton (1.1023 tons) level for a fourth day running.
"What's driving the turnaround is the fact that the European crisis, in the near-term, has been averted," said Adam Sarhan, chief executive of Sarhan Capital.
"That doesn't mean that it's off the table, it just means that for now, it's receding. That's why all of these risk assets are up today."
