Copper prices in London experienced a rise on Wednesday, following an unexpected surge in industrial profits in China, the world’s leading consumer of the metal. This positive news on industrial profits boosted risk sentiment and contributed to the upward movement in copper prices.
The surge in industrial profits in China indicates a potential increase in demand for copper, as it suggests a rise in industrial activity and manufacturing. This is significant for the global copper market, as China’s consumption of copper plays a major role in determining prices. As a result, investors and traders reacted positively to this news, leading to a rise in copper prices in London.
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