By Sachin Patel
At A Glance
- China consumes half of the world's copper, and the country's factory activity in August reached its highest level since 2011
- China's switch to renewable energy systems is likely to be a key demand driver for copper moving forward
Copper prices have rebounded strongly since hitting an 11-year low in March. After briefly trading below $2 per pound, the metal has recovered 50% of its value, as demand from China soars and COVID-19 hits supply from South America.
Rising Demand, Falling Supply
China's manufacturing and construction sectors, which consume around