Bullish Catalysts Are Mounting For Copper

Copper jumped above $9,000/t for the first time since June at the beginning of 2023 on optimism about China's economy, after Beijing abandoned its zero-Covid policy. We believe there is more upside for copper prices as demand in China picks up after the Lunar New Year holiday at the end of this month. Copper benefits from zero-Covid exit Copper has been rallying since late November amid a series of supportive policies in China and Beijing’s abrupt abandonment of Covid controls. The red metal has also received support from the weaker US dollar,…