LME copper prices, opening at $8520.5 per metric ton and closing at $8491.5 per metric ton last Friday, witnessed a positive trend.

What further fueled this upbeat sentiment was China’s favorable Purchasing Managers’ Index (PMI) data.

India, in particular, is expect to witness a 40% increase in copper demand from 2022 levels, exceeding 1.5 million tons by 2025.

Meanwhile, in the United States, data from the Department of Labor indicates that initial jobless claims in August were lower than market expectations at 187,000.

These combined factors are influencing the dynamics of the copper and metals markets, creating an environment of cautious optimism.