Metals Rebound on Signs Delta-Driven Demand Fears Are Overblown
- Copper scrap supply tightens after last week’s price slump
- Aluminum trades near three-year high as disruptions continue
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Copper climbed for a fourth day in London amid signs of resilient demand, while aluminum traded near the highest level in more than three years as supply disruptions tighten the market.
Base metals have rebounded this week as China’s success in containing a sprawling Covid-19 outbreak shored up confidence in the demand outlook. Indicators in the physical market suggest the country’s appetite for copper is picking up rapidly.