Commodities
Copper Prices Rebound Towards Record High on Strong China Demand
Copper prices rose on Tuesday, driven by strong demand in top consumer China and rebounding from a brief pullback. The metal's price is now back towards its record high of $14,875 a ton set on September 10.
The three-month copper contract on the London Metal Exchange (LME) increased by 0.61% to $14,750.5 per metric ton by 0300 GMT, marking its sixth consecutive daily gain.
The most-traded copper contract on the Shanghai Futures Exchange (SHFE) jumped 1.56% to 111,670 yuan ($16,675.88) a ton, supported by speculative buying and expectations of Chinese buyers rebuilding inventories before holidays in late September and early October.