China’s economy is showing promising signs of recovery, which is bolstering the demand for copper.
Today, copper prices saw a modest rise, reflecting optimism about China’s economic recovery and its potential increased demand for copper.
On the London Metal Exchange, the three-month copper price increased by 0.4% to $8,275.50 per metric ton today, following a 3% drop the previous week.
China has been implementing measures to support its struggling property market, including the removal of home buying restrictions in several cities.
Investors are eagerly awaiting U.S. inflation data later this week, which will provide insights into potential interest rate hikes.