Copper Tops $9,000 as China Reopening Boosts Outlook for Demand
- Metal trading at highest since June after two-month rebound
- China’s property stimulus brightens commodity demand outlook
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Copper rose above $9,000 a ton for the first time since June, fueled by optimism that China’s reopening will spur demand in the world’s top consumer.
The key industrial metal has bounced back following a 14% decline in 2022, when tough coronavirus restrictions hampered the Chinese economy. The country’s shift away from Covid Zero policies has sparked a rebound, while expectations for less aggressive rate hikes by the Federal Reserve have added support.