China's Copper Demand Fuels Fourth Straight Price Rise

Copper prices rose for a fourth consecutive day on Friday as strong demand in top consumer China continued to drive the market. The three-month copper price on the London Metal Exchange gained 0.2% to $14,521 a metric ton by 1009 GMT.

This increase brings the metal back towards record highs and marks a 2% gain for the week.

A key indicator of Chinese demand is the Yangshan copper premium, which has climbed 72% so far in September to $124 a ton - its highest level in nearly four years. Additionally, high-frequency data show that demand for copper, aluminum, and flat steel was 1-2% higher year-on-year in the first half of September.