Copper Surges to Seven-Day High Amid Easing Demand Concerns

Copper prices have surged to their highest level in over a week as concerns about economic growth and demand ease, driven by lower oil prices and dwindling inventories.

The benchmark copper price on the London Metal Exchange rose 0.6 percent to $13,868 per metric ton at 1605 GMT, reaching its highest since July 22.

Traders attribute the boost in sentiment to President Donald Trump's decision to call off a fresh attack on Iran, which has alleviated worries about price pressures.

The underlying fundamental picture for copper remains supportive, with inventories in both China and LME warehouses at their lowest since February, down nearly 40 percent since May.