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Shanghai copper climbs on China’s plan to expand strategic reserves
Shanghai copper climbed on Wednesday as investors reacted to China’s plan to expand its strategic reserves. The most-active copper contract on the Shanghai Futures Exchange climbed 2.45% to 103,120 yuan ($14,864.57) a metric ton as of 0330 GMT. The benchmark three-month copper on the London Metal Exchange, meanwhile, dipped 1.11% to $13,328.50 a ton. China will expand its copper strategic reserves, an official at the state-backed China Nonferrous Metals Industry Association said on Tuesday, adding that it will also explore creating a commercial stockpiling system led by state-owned enterprises. The top copper ... (full story)
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From finance.yahoo.com | Feb 3, 2026
Copper rebounded as a metals selloff led by silver and gold eased and a state-backed industry group called for China to boost its strategic reserves of the crucial industrial metal. China should expand the size of the reserves and also work with major state-owned producers to boost commercial stockpiles, according to the China Nonferrous Metals Industry ...
From brecorder.com | Feb 3, 2026
Benchmark three-month copper on the London Metals Exchange gained 3.6percent to USD13,360 a metric ton in official open-outcry trading, having sunk to a three-week low in the previous session. LME copper soared to a record peak of USD14,527.50 on Thursday, fuelled by speculative buying, then plunged 14.5percent from that high to an intraday low on Monday. ...
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