Copper Prices Rally as China Restocks Amid Record Price Dip

Copper prices are rising on signs of active demand from top consumer China. The metal, used in power and construction, has gained 1.1% to $14,231 a metric ton on the London Metal Exchange.

The recent price dip is being taken advantage of by Chinese buyers who are restocking copper, leading to higher import premiums. The Yangshan copper premium rose 7% to $118 per ton, its highest level in almost four years.

However, traders remain wary of potential volatility ahead of the U.S. Federal Reserve's interest rate decision. This uncertainty has contributed to a decline in copper prices since hitting a record high of $14,875 last week.