London copper hit its highest level in eight weeks on Monday on hopes of better demand for metals as certain countries started to ease lockdowns that were enforced to curb the coronavirus outbreak.
Australia, France and Spain are slowly opening their economies, while the United Kingdom – which has the second-highest virus death toll in the world – introduced some limited easing of restrictions.
Three-month copper on the London Metal Exchange (LME) rose as much as 1.8% to $5,370 a tonne, its highest level since March 16, before easing slightly to trade 0.8% higher at $5,315 a tonne by 0707 GMT.
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