Copper Prices Rally as China Demand Boosts Metal to Near Record High

Copper prices have risen for a sixth consecutive day due to strong demand from top consumer China. The benchmark three-month copper on the London Metal Exchange increased by 0.61% to $14,750.5 per metric ton by 0300 GMT.

On the Shanghai Futures Exchange, the most-traded copper contract jumped 1.56% to 111,670 yuan ($16,675.88) per ton, supported by speculative buying.

The Yangshan copper premium, a gauge of Chinese appetite for imported copper, fell to $119 per ton on Monday but remains 65% above the start of the month.