The copper price breached $7,000 per ton this week, reaching $7,034 per ton on the LME — the highest level since June 2018. China’s recovery boosts copper price Well, the world’s largest consumer, China, is certainly back to positive GDP growth. Its recovery from the pandemic lockdowns has been rapid and ahead of the rest of the world. The country’s early application of infrastructure investment aided the recovery, which in turn boosted demand. Higher refined metal imports support the impression China is on a 2009-2010 type stimulus led ramp-up in demand. The reality is it will be much more highly nuanced this time, ... (full story)