KONTAN.CO.ID - LONDON. Benchmark London metal prices rose on Wednesday, with copper hitting its highest in two weeks and catching up with a rally in commodity prices spurred by China's move to reopen its borders, further unwinding its COVID controls. Three-month copper on the London Metal Exchange was up 1.6% at $8,485 a tonne, as of 0700 GMT, after earlier climbing to $8,498, its strongest since Dec. 15. The bourse was closed on Monday and Tuesday for public holidays. China announced on Monday that inbound travelers would no longer have to go into quarantine from Jan. 8. It will resume issuing visas for mainland residents to travel overseas also beginning Jan. 8.
Copper Hits 2-Week High on China Recovery Optimism
KONTAN.CO.ID - LONDON. Benchmark London metal prices rose on Wednesday, with copper hitting its highest in two weeks and catching up with a rally in commodity prices spurred by China's move to reopen its borders, further unwinding its COVID controls. Three-month copper on the London Metal Exchange was up 1.6% at $8,485 a tonne, as of 0700 GMT, after earlier climbing to $8,498, its strongest since Dec. 15. The bourse was closed on Monday and Tuesday for public holidays. China announced on Monday that inbound travelers would no longer have to go into quarantine from Jan. 8. It will resume issuing visas for mainland residents to travel overseas also beginning Jan. 8.