Copper Prices Soar Amid Chinese Demand Expectations

Copper prices continued their upward trend for the fifth consecutive session on Monday, reaching a high of $14,762.5 per metric ton on the London Metal Exchange.

This surge in copper prices is largely due to expectations of a seasonal increase in demand from China, the world's largest consumer of copper.

Ole Hansen, Saxo Bank's head of commodity strategy, noted that renewed speculative demand has pushed copper higher after funds cut their net long positions in Comex copper futures last week.

The premium of US copper futures over LME prices widened to $47 per ton, encouraging new physical shipments to COMEX copper stocks.