Copper Prices Rebound as Demand Recovers
Copper prices recovered at the start of this week, supported by improving market sentiment, a weaker greenback and growing concerns over tightening supplies in China. In late-morning trading in New York, Comex copper for December rose to $6.35 per pound. The red metal remains about 13% higher since the beginning of this year. The recovery comes amid mounting evidence of supply constraints in the largest consumer of copper globally, China, with the Yangshan copper premium climbing to a new high of $230 per ton at the start of the week. Meanwhile, inventories monitored by Shanghai declined to less than 34,000…