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Home / Metal News / LME Copper Prices Soared to 7-Month High on Expectations over Chinese Demand Recovery

LME Copper Prices Soared to 7-Month High on Expectations over Chinese Demand Recovery

Jan 18, 2023 09:42

LME three-month copper contract prices surged to a seven-month high on Tuesday, as speculators bet that Chinese demand will pick up later this year. Copper prices have surged 11 percent so far this month on hopes of a recovery in Chinese demand.

SHANGHAI, Jan 18 — LME three-month copper contract prices surged to a seven-month high on Tuesday, as speculators bet that Chinese demand will pick up later this year. Copper prices have surged 11 percent so far this month on hopes of a recovery in Chinese demand.

At 17:00 London time on January 17 (01:00 on January 18 CST), three-month copper on the LME rose 2.0%, or $182.50, to $9,287/mt, the highest since June 2022.

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