Commodity Market Report

Global copper short-term outlook April 2024

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Prices staged a sharp recovery throughout the past month, with 3-month copper trading to highs of over US$10,200/t on 30 April. The combination of an uptick in Chinese manufacturing activity, the news that the LME would ban Russian metal from being delivered on to the exchange from 13 April and bullish discussions at the CESCO week gathering attracted a rush of investor fund inflows into the market, pushing copper to its recent high.

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