According to Jinshi, copper futures on the London Metal Exchange (LME) rose for the fourth consecutive trading day on Wednesday, due to signs of stronger demand in China, algorithm-driven fund buying, and U.S. data that pushed the dollar weaker and boosted expectations of interest rate cuts. Copper prices are often seen as an indicator of the health of the global economy. Stronger copper demand in China, the largest metal consumer, boosted market sentiment. In addition, some algorithm-based fund buying entered the market, providing support for the rise in copper prices. Analysts said that weak economic and employment data and cooling inflation may allow the Federal Reserve to start cutting interest rates in September. Lower credit costs will help stimulate economic growth and also help boost commodity demand.
