Copper prices are near the highest level in 5 months

Copper prices rose near the highest level in 5 months after China promised to revive demand for the largest metal consumer in the world. The Chinese government unveiled a special action plan at the beginning of the week aimed at stimulating the request. The consumption in China grew faster at the beginning of the year, which helped compensate the impact of customs definitions imposed by US President Donald Trump, which prints Chinese exporters. Retail sales increased by 4% during the first two months, with expectations. The price of the metal used in the industry increased by about 12% this year, as Trump’s customs definitions added more fluctuations to a market that has a lack of mines. However, the struggling real estate sector in China, which is an essential pillar of demand, is still beyond access to the soil. The prices of new homes in China have fallen as soon as last month, despite the efforts of the authorities to support the market. The price of buyer has risen the highest price for buyer since October by 0.3% to $ 9810.50 per tonne, at 08:01 o’clock on the London Metal Exchange, after scoring a 0.7% profit earlier. Prices recorded $ 9,850 on Friday, the highest level since October. The price of aluminum rose 0.3% to $ 2690.50 per ton, with the shares of the “China Hongqiao” group, one of the largest metal production companies in the world, rose to a record thanks to a profit in the profits. The production of aluminum in China jumped by 2.6% to 7.32 million tonnes during the first two months, or the equivalent of a record level of 124,068 tonnes per day, according to the government’s data. This indicates the flexibility of the mosque, which has a high profit margin thanks to the rise in the prices of products.