Copper prices resume gains as dollar declines

Copper futures resumed their gains in today’s trading, with the US dollar declining, while the Chinese economy achieved growth in line with the government target.

The price of copper rose by 1.3%, reaching $12,965 per ton on the London Metal Exchange, the price of nickel jumped by 2.6%, the price of tin increased by 2.8%, while the price of aluminum rose by 0.8%.

Copper witnessed an increase Strong over five months, driven by supply shortages and strong demand as a result of the artificial intelligence boom, which increases demand for the metal used in wires and renewable energy equipment, and extensive metal purchases in China in recent weeks have also contributed to supporting prices.

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