The price of copper has reached a three-month high, marking the biggest monthly rise since January. This surge is driven by growing optimism over Chinese demand and supply uncertainties from Chile. Chinese government’s commitment to support the real estate sector and alleviate local government debt, along with prospective policies to stimulate electric vehicle consumption, are expected to increase copper demand. Concurrently, Chile’s copper mining giant, Codelco, reduced its annual production outlook and raised cost estimates following a disappointing quarter. These factors, along with signs of slowing US inflation, have boosted copper prices by up to 1.8% to reach $8,821 per ton on the London Metal Exchange.

Source: https://www.mining.com/web/copper-price-set-for-monthly-gain-as-optimism-returns-on-china-demand/