Funds buy into a copper rally fuelled by China and Chile

Hedge funds are starting to buy into the rally in copper, which continues to build upside momentum. London Metal Exchange (LME) copper hit a two-year high of $6,633 per tonne on Monday. At a current $6,490, it is now up 5% on levels at the start of the year, having clawed back all its COVID-19 losses. What’s attracting investors back to the copper market is the current bullish mix of strong Chinese demand and fragile Chilean supply.

Source: Reuters