China’s Economic Recovery Boosts Copper Demand, U.S. Inflation Data Awaited

China’s economy is showing promising signs of recovery, which is bolstering the demand for copper.

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Today, copper prices saw a modest rise, reflecting optimism about China’s economic recovery and its potential increased demand for copper.

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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.

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China has been implementing measures to support its struggling property market, including the removal of home buying restrictions in several cities.

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Investors are eagerly awaiting U.S. inflation data later this week, which will provide insights into potential interest rate hikes.

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