Strong Chinese Demand Boosts Copper Outlook

Chilean copper giant Codelco has projected a significant increase in demand for copper from China during the second quarter of the year. This announcement was made by Maximo Pacheco, Codelco's chairman, during the CRU copper conference in Santiago, Chile.

"We're witnessing an exceptionally strong demand from China this quarter," Pacheco remarked. "China's purchasing at current prices is a positive indicator for the market."

Copper Prices Rebound

This optimistic outlook comes at a time when copper prices have started to recover after hitting three-month lows. The rebound follows the U.S. President's decision to pause the reciprocal tariff package for 90 days.

By 10:13 am ET, copper futures for May had seen a notable increase of 3.79%, trading at $4.3515 per pound.