Copper has bounced back following a 14% decline in 2022, which was due to tough restrictions. The country’s shift away from these restrictive policies has caused the metal to rebound with a surge, while expectations for less aggressive rate hikes by the Federal Reserve have added support.
Meanwhile, the current thought is that US interest rates have stopped rising, pushing the dollar to a seven-month low. This would help buyers using different currencies to buy dollar-priced metals more easily.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished