Copper Prices Tick Upwards as China Releases Positive Data
Copper’s demand has grown globally, with the construction, electronics, and manufacturing industries making up a significant chunk. As the world’s largest consumer of copper, China’s economic performance has an outsized impact on global copper prices. The start of the week saw the price of copper surge, with investors reacting positively to robust industrial output from China. Actively traded copper contracts on the Shanghai Futures Exchange saw prices hit $11,986.52, representing a 0.7% rise. On the London Metal Exchange, benchmark three-month copper prices climbed to $10,610 per metric ton, marking a 0.1% increase. Figures from the National Bureau of Statistics show…