Copper price rises above $9,000 fueled by optimism about China

2023.01.12

Copper prices moved above $9,000 a tonne on Wednesday for the first time since June on hopes that Chinese demand will rebound after the country removed its covid-19 restrictions.

China’s retreat from its Covid-Zero has caused a huge spike in infections, but investors expect it to lift metals demand throughout the year.

Copper for delivery in March rose 4.2% on the Comex market in New York, touching $4.17 per pound, or $9,174 per tonne.