Chinese Economic Policies Influence Copper Market Dynamics in 2024

Copper prices reached a record high of $5.10 per pound in late May, driven by the increasing demand from electric vehicles (EVs), artificial intelligence (AI) data centers, reshoring efforts, and power grid upgrades. Combined with tightening supplies, over the past two years, Chinese producers have dealt with domestic deflation, prompting them to seek higher prices in international markets.

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