Copper futures rose to nearly $4.50 per pound on Thursday, marking a four-month high.
The rally was driven by a sharp decline in the US dollar and easing concerns over a global trade war.
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China has opted for more restrained countermeasures against the 10% tariffs imposed by the Trump administration on Chinese goods.
Additionally, US President Donald Trump and Chinese President Xi Jinping are expected to discuss trade developments in an upcoming call, raising hopes that further escalation can be avoided and tariffs may be reversed.
Positive manufacturing PMI data from both the US and China, two of the world’s largest economies, also pointed to ongoing expansion.
However, treatment charges in Chinese copper smelters continued to reflect uncertainty about future demand levels.
