On October 23, 2024, copper price on the London Metal Exchange (LME) increased 0.9%, reaching 9,648 USD/ton.
The increase was driven by expectations of new economic stimulus measures from China, the world’s top copper consumer, although a stronger US dollar reduced the appeal of the metal.
China’s economic support measures are likely to maintain high demand for copper imports. Other metals such as aluminium and zinc also rose during the session.
