From beginning to the end of this month, the COMEX copper futures are down 3.68 % so far this month but up 7.03 % so far this year, reflecting optimism about the economic recovery following China’s easing of pandemic restrictions and the outlook for metals demand. Thursday’s closing price was still 8.55% lower than a year ago and 17.65% below its all-time peak of $4.929 in March 2022.

View the outside market, the copper price April , the most actively traded commodity on the Shanghai Futures Exchange, fell 470 yuan to close at 70,220 yuan a tonne on Thursday. Bonded Copper Fell 490 yuan to 62,660 yuan a tonne in April at the Shanghai International Energy Exchange (INE) .