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Copper Pushes Higher On China Optimism
Copper prices are continuing to push higher on Tuesday with the futures market now up around 9% from the YTD lows. The market has been on a solid run higher recently, recording just one losing day over the last eight sessions. The move higher comes despite recent USD strength and reflects better demand expectations linked to robust US economic data and anticipation of fresh stimulus to come in China. Indeed, there have been signs recently that Chinese demand is picking up with the latest import data showing that copper imports surged by 18% last month, hitting their highest levels in over a year. China Optimism The ... (full story)
