China Cu prices jump 6%, refreshing 9-year high

Chinese copper prices in the domestic futures and spot markets both gained nearly 6% from last Friday to each refresh nine-year highs as of February 22, new data shows. The increase extended the price uptrend that began in early February and occurred mainly thanks to the prevalent optimism for long-term copper fundamentals, and to tight supplies of imported copper and copper concentrates, according to Mymetal, Mysteel’s nonferrous metals reporting arm.