Strong Chinese Demand Boosts Copper Outlook

Chilean copper giant Codelco has announced a positive outlook for copper demand, particularly from China, in the second quarter of the year. Maximo Pacheco, Codelco's chairman, highlighted the robust demand during the CRU copper conference in Santiago, Chile.

Market Response to Demand Surge

Following the announcement, copper prices saw a significant rebound. This recovery comes after prices hit three-month lows, just before the U.S. President decided to pause the reciprocal tariff package for 90 days.

At 10:13 am ET, copper futures for May experienced a notable increase, rising by 3.79% to trade at $4.3515 per pound.