Copper rebounds on China stimulus hopes, but uncertainty remains

Price breaks through $10,000 per tonne again in renewed upswing

20241002N copper

Copper is used in a wide variety of applications, including wiring for construction projects. © Reuters

SHUGO YAMADA, Nikkei staff writer

TOKYO -- Copper is rallying on anticipation that China, the largest consumer of the red metal, will regain its appetite as the government moves to rouse a weak economy.

Three-month copper futures on the London Metal Exchange (LME) topped $10,000 per tonne last Thursday for the first time since early July. Copper hit $10,158 a tonne on Monday, marking a roughly four-month high. Copper prices rose 6% in September.

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