Copper hits record near $12,300 on US GDP growth, weak dollar

Copper prices reached a record high near $12,300 due to strong U.S. GDP growth and a weak dollar, enhancing demand prospects. The metal's price on the London Metal Exchange rose 1.1% to $12,195 per metric ton, with a 2.6% weekly gain. The U.S. economy's rapid growth and a declining dollar, which makes metals cheaper for other currency holders, are key factors. Additionally, significant copper imports to the U.S. and increased Chinese demand are influencing the market.