Buyer at the highest level in 5 months after China has promised to increase consumption

The price of copper has in five months after China has promised to revive consumption with the largest metal consumer in the world to its highest level. The Chinese government revealed a special action plan over the weekend to increase spending by increasing the income of individuals. At the beginning of the year, the consumption of the country was growing faster, which helped to compensate the impact of US President Donald Trump’s definitions, which prints Chinese exporters. Retail sales increased by 4% in the first two months of the year, bypassing expectations. The price of buyer has risen by more than 12% this year as a result of the effect of Trump’s definitions, which adds fluctuations to a market suffering from a lack of mining supplies. However, the Chinese real estate sector, which is a demand for minerals, is still suffering and has not yet reached the lowest level. The prices of new homes dropped faster last month, despite the efforts of the authorities to support the market. Aluminum recovery and copper rose 0.8% to $ 9,861.50 per tonne on the London Metal Stock Exchange at 17:51 local time, which is the highest level since October 7. The price of aluminum increased by 0.2% to 2687 dollars per tonne to the shares of the Chinese company “Hongkayo”, one of the largest metal producers in the world, recorded a record due to the high price. Aluminum production in China rose 2.6% to 7.32 million tonnes in the first two months of the year, which is the highest level ever with the average production of 124,068 tonnes per day, according to government data. This reflects the flexibility of the mosque, which benefits from higher profit margins thanks to the high prices of products.