Copper futures climbed as high as $9,164.50 per metric ton on the London Metal Exchange (LME) on Monday, March 18, marking a fresh 11-month high. The rally comes hot on the heels of a months-long sideways grind, propelled by supply risks and growing optimism around the global economic outlook.
Contributing to the run-up is news that as many as 15 Chinese smelters are considering output cuts at a recent high-level meeting in Beijing, which ignited a flurry of trading activity that the LME hasn’t seen in years.
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