The settlement of LME (London Metal Exchange) copper futures was up by more than 3% yesterday (October 14), exceeding the US$10,000/ton level, the highest level in the past four months. The opening price today is still fluctuating at the high point, reaching US$10,024/ton at the highest.

US President Biden promised at the climate change summit to reduce carbon emissions by at least 50% by 2030. Besides, China’s copper smelters suggested limiting new production capacity and using more copper scrap to help realize the government’s climate goals, which is one of the reasons to boost international copper prices.