17 March | Other

Copper reaches near five-month maximum after China announces plans to boost demand

Copper reaches near five-month maximum after China announces plans to boost demand

Bloomberg reports that copper price reached near five-month high after China, the largest consumer of the metal, said it intends to boost demand.

On the weekend, the Chinese authorities presented a special plan aimed at stimulating consumption, which increased faster at the beginning of the year. It helped compensate for the impact of US President Donald Trump’s import tariffs which are putting pressure on Chinese exporters. In the first two months, retail sales in China rose by 4%, exceeding forecasts, the news agency says.

According to Bloomberg, copper has risen about 12% this year as US import duties add to volatility in the market, experiencing tight supply. Meanwhile, China's real estate sector, the backbone of the demand for metals, continues to struggle. The pace of decline in new home prices accelerated last month, despite efforts by Chinese authorities to support the market.

According to the news agency, copper price reached $9,850 per ton on Friday, which is the highest since October last year.

Anton Volkov MarketCheese
Period: 11.07.2025 Expectation: 920 pips
GBPUSD falls as UK GDP unexpectedly shrinks
Today at 10:42 AM 3
Brent sell
Period: 17.07.2025 Expectation: 150 pips
OPEC's gloomy forecast drags Brent crude prices lower
Today at 08:53 AM 9
Period: 17.07.2025 Expectation: 26000 pips
Institutional investor demand could push ETHUSD to 3,000
Yesterday at 10:38 AM 35
Period: 16.07.2025 Expectation: 2000 pips
USDJPY prepares to retest 148 Level
Yesterday at 08:19 AM 38
Period: 16.07.2025 Expectation: 900 pips
NVIDIA shares rise amid global AI infrastructure investments
09 July 2025 66
Period: 15.07.2025 Expectation: 800 pips
Breaking downtrend could push USDCAD to 1.375
09 July 2025 44
Go to forecasts