Copper set for weekly rise amid Chinese demand

The global market price trend has been rising for the 11th week out of the past 12 weeks, supported by signs of improved demand in China. Copper prices have surpassed $14,460 per ton in London, while demand in China has surged to its highest level since November 2022, driving prices up approximately 16% compared to the beginning of the year. Although the U.S. Federal Reserve has raised interest rates for the first time since 2023, the impact on the metal markets has been limited, as forecasts indicate ongoing pressure on supply and demand, with considerations of import tariffs and global supply-demand factors.

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