LME copper reached a new peak on January 18, rising to US$9,550.5/ton, after which the price returned to US$9,292/ton. According to an analysis by market participants, copper prices have recovered after entering 2023, supported by mild epidemic controls in Asia and the depreciation of the US dollar.
Copper prices have risen sharply since January, up 12.35% in the last one month and about 30% in the last six months. On January 18, the price set another record since June 2022.
Copper prices are on the rise. Although the demand in Asia has not completely recovered, the market seems optimistic.
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