Copper in longest winning streak since 2017 on China demand hopes
Copper was poised for a second weekly advance after data showed China’s GDP in 2024 expanded 5%.
China’s exports of rare earth metals burst through the $100,000-per-tonne mark for the first time in February, up almost ninefold from a year before, while the volume of trade stayed far below historical averages.
China’s squeeze on rare earths, which are used in a wide range of hardware including precision-guided weapons, hybrid car batteries and iPads, has forced prices up dramatically since July last year, when each tonne fetched a mere $14,405 on average.
