Copper price within sight of all-time high as Chinese smelters hit record activity
Geopolitics · Mining.com ·
Copper futures reached a 10-week high at $6.11 per pound, approaching the all-time closing price set in January. Satellite data revealed Chinese smelters achieved record active capacity of 10.73 million tonnes in March. Rising sulfuric acid prices have incentivized Chinese operators to increase concentrate purchases while pressuring TC/RC rates downward across the industry.