London copper prices on Tuesday held steady near a more than three-week high, after better factory activity data and easing of COVID-19 lockdowns in top metals consumer China lifted demand prospects.
Three-month copper on the London Metal Exchange CMCU3 was flat at $9,537.50 a tonne by 0342 GMT, after hitting its highest since May 5 at $9,579 on Monday.
“There are better demand expectations since industrial activity is recovering and consumer demand is increasing on the back of declining COVID-19 cases in China, Shanghai reopening and manufacturing restarting from Wednesday,” a metals trader in Singapore said.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.