Copper Rises on China Stimulus Hopes
Copper futures rose above $4.27 per pound on Wednesday, recovering some losses from the previous session, as optimism grew that potential US tariffs on Chinese goods could prompt Beijing to introduce more aggressive stimulus measures. Investors were also awaiting updates from the National People’s Congress standing committee, which is deliberating plans to raise local government debt to increase spending. Meanwhile, data showed that China’s trade surplus widened more than expected in October, with exports surging and imports declining. These figures added to hopes that China’s economic recovery could gain momentum, further supporting copper prices. Meanwhile, copper prices had fallen more than 5% on Wednesday as fears of higher US tariffs under a second Donald Trump presidency raised concerns over global economic growth and weaker demand for metals.