Copper prices stay firm after hitting all-time high on AI demand, China recovery

TOKYO -- The global benchmark price for copper recently climbed to an all-time high, amid expectations for strong AI demand and a Chinese economic recovery, despite heavy production by Chinese refineries and weaker-than-expected demand from the world's largest copper consumer.

Copper prices are expected to remain elevated for some time as traders and investors assess whether strong demand from data centers to power artificial intelligence, and from clean energy projects, materializes.