LME copper hit a new high on January 18, which once soared to US$9,550.5/ton in the session, and then the price came back to US$9,292/ton. According to an analysis by market participants, copper prices rebounded after entering 2023, supported by eased epidemic controls in Asia and the US dollar depreciation.

Copper prices have soared sharply since January, with an increase of 12.35% in the past month and nearly 30% in the past six months. On the 18th, the price hit another record since June 2022.

Copper prices are on the rise. Although demand in Asia hasn't completely recovered, the market seems optimistic.