Copper prices rise due to supply and demand

This could be subsequent to three-month copper future prices reaching a 12-month high of US$8,991/tonne due to tight supply and demand.

Over the last week, China has moved closer to potentially cutting copper production by 10% last week, with Chinese copper smelters struggling to refine the base metal in an economical way (Motley Fool).

In addition, despite the decrease in supply, there is a new potential increase in demand.

As reported by Reuters, China's central bank overnight announced the removal of minimum down payments on vehicle financing - increasing the copper required to produce more vehicles.