Copper Prices Surge on Optimistic Economic Data from China and US

Copper prices surged to their highest level in more than a week as investors assessed upbeat factory data from China and potential output cuts by leading smelters. The world's second-largest economy, China, showed positive signs with its industrial purchasing managers index recording the highest reading in a year. This, coupled with strong exports and rising consumer prices, has heightened investor optimism. Additionally, a US manufacturing gauge unexpectedly ceased 16 months of decline, adding to the positive economic outlook. These developments have driven copper prices higher, reflecting a nascent optimism in the global economy.