Copper shot up 4.2 percent on Thursday, its biggest one-day percentage gain since May 2013. It was lifted by a bounce in global stock markets, buoyant U.S. economic data and the announcement of production cuts by miner Freeport-McMoran Inc also support the prices in Friday's session. Freeport lowered its copper sales estimates for 2016 and 2017 by about 150 million pounds. While the global copper market is expected to be in surplus by 477,000 tonnes this year, said Bruce Alway of GFMS, the metals research and forecast team at Thomson Reuters.
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