• ALU
    2243.47 USD -2.23%
  • RICE
    18 USD -1.75%
    74.17 USD -1.32%
    14.35 USD -0.66%
  • NG
    2.27 USD 0.27%
    256.22 USD -1.15%
    70.04 USD -2.02%
  • XAG
    23.96 USD -0.14%
  • XAU
    2010.5 USD 0.48%
  • XCU
    3.73 USD -1.34%
  • XPD
    1478 USD -0.78%
  • XPT
    1048 USD 0.64%

Copper enjoys strong rebound after China news

The price of copper increased by the most in a single month since April 2021. A new copper treating process may bring new inventory.

Copper prices soar after optimistic China news

Copper continued in its bullish short-term momentum and jumped toward  $3.76 per pound or $8,274 per tonne, hitting the highest level since July. The price of copper increased most significantly in a single month since April 2021 as investors anticipate China to abandon its Covid-zero policy, which would increase demand.

China’s Friday announcement of a proposal to lower bank reserve requirements in order to increase the money supply served to further enhance the upbeat outlook. Authorities loosened restrictions on developers selling shares this week, adding to other steps taken to increase liquidity in the real estate market.

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Tomáš is a financial reporter with US markets as his main field. Tomáš is an aspiring author and entrepreneur aspiring to help people get better in financial knowledge.


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