Copper prices moving higher Copper prices hit their highest in more than six months on Monday, driven higher by an improving demand outlook after top consumer China reopened its borders, with a lower dollar reinforcing positive sentiment.
Fund managers tracking commodity indices and rebalancing their holdings to target weights were also behind gains in aluminium ALI1!, zinc ZNC1! and lead (CMPB).
Benchmark copper HG1! traded 1.8% up at $8,744 a tonne in official rings after hitting $8,803, its highest since June 22.
China's reopening is adding fuel to the fire that there will be a demand pick-up at a time of low inventories, one metals trader said, adding that a weaker U.S. currency would also buoy demand for dollar-priced