Copper prices hit their highest due to the expectation of the growing demand from lifting China’s lockdown restrictions. However, a stronger dollar may weaken the profits.

US Comex copper was up by 0.8% to US$4.34 per lb.

China has announced a package of 33 stimulus measures to push up its pandemic-ravaged economy. The metal industry expected the price to pick up again.

Copper dropped by 18% in about two months from the top due to fears about a slowdown in China and inflation disrupting economies globally. However, now the lower inventory levels might indicate the growing market price.