The reaction to the trade reports coming from China is positive

On April 13th, copper prices in London reached a 2-week high due to positive trading statistics from China and a weakening of the US dollar to a 2-month low. However, American data showed unexpected drops in production prices and an increase in unemployment benefit claims.

By the end of trading, copper prices increased by 1.5% on the LME to $9,050 per tonne. Chinese data indicates that Chinese exports grew in March after five months of decline, surprising economists who predicted a 7% decrease.

However, the Yan-shan premium to the price of copper decreased to its lowest value in a month, and copper imports to China decreased by 19% year-on-year in March. On April 14th, copper prices hit a 7-week high, but analysts warn of risks of price decreases in the short term due to expected global economic slowdown in the second half of the year and weaker-than-expected demand in China.