Chilean Copper Giant Reports Strong Chinese Demand

In a recent announcement, Codelco, the Chilean copper behemoth, highlighted an optimistic outlook for copper demand from China in the upcoming second quarter. Maximo Pacheco, the chairman of Codelco, shared insights during the CRU copper conference in Santiago, stating, "We're seeing really strong demand from China in this second quarter. China is buying at these prices."

Copper Prices on the Rise

This revelation comes at a time when copper prices are experiencing a significant rebound. After hitting three-month lows, the market has seen a positive shift, especially following the 90-day pause on reciprocal tariffs by US President Trump.

By 10:13 am ET, the futures for May delivery had climbed by 3.79%, reaching $4.3515 per pound, signaling a robust recovery in the copper market.