Copper Prices Rebound as Chinese Buyers Return to Market

Copper prices rebounded on Thursday after Chinese buyers returned to the market, driving up demand and offsetting concerns about the impact of US interest rate hikes.

The London Metal Exchange saw copper trade at $14,408 a metric ton in official rings, a 1.2% increase from previous levels.

This marks a slight recovery for copper prices, which have dropped 4% since hitting a record high of $14,875 a ton on September 10.

According to Alastair Munro, senior base metals strategist at Marex, Chinese demand is 'real physical buying' and not just speculation.

The Yangshan copper premium, a gauge of Chinese demand for copper imports, rose to $118 a ton on Wednesday, its highest since October 2022.