Copper Prices Reach Four-Week High as China Boosts Demand

Copper prices saw a significant upswing, hitting a four-week peak on the back of renewed optimism in demand.

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As of 1100 GMT, copper on the London Metal Exchange (LME) experienced a 1.4% rise, reaching $8,545.5 per metric ton.

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China’s manufacturing sector pleasantly surprised by returning to expansion in August. Improvements were observed in supply, domestic demand, and employment.

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In addition to copper, lead also performed robustly, reaching an eight-month high of $2,295 per ton, mainly due to speculative buying.

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In conclusion, the resurgence in copper prices reflects China’s rebound and support for its property market, instilling optimism in the metals market.

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