In anticipation of China easing its rigorous COVID-19 limitations. Which might increase metals demand, London copper prices rose 7.3% last week, their strongest weekly rise since March. While Shanghai Futures Exchange copper reached its highest level since June 20 on Monday.
“The overall level of price fluctuation for copper has greatly increased recently. Short-term orders should be purchased when needed, while long-term strategic inventory reserves should be avoided for the time being .”
On Monday, China’s weak economic figures contributed to a general decline in risk sentiment and metals demand. While a stronger dollar made commodities priced in other currencies more costly for holders among those currencies.