Copper extended gains — climbing back toward a record high set earlier this month — as stock markets rallied and there were signs of tightening supply conditions in China. Benchmark futures rose as much as 1.3% on the London Metal Exchange, after posting the 11th weekly advance in 12 on Friday. Monday’s gains came as equities got a boost from a decline in oil prices and optimism surrounding the upcoming summit between US President Donald Trump and China’s Xi Jinping.

By Annie Lee and Mark Burton, September 21, 2026 at 4:56 AM UTC, updated at 9:31 AM UTC. The article reports on copper’s rebound driven by mixed market signals: equity strength from lower oil and geopolitical optimism, alongside physical tightness in Chinese inventories. The London Metal Exchange benchmark reflected this momentum, marking another week of upward pressure in a broadly bullish trend for industrial metals.

The piece notes the broader context of commodity markets reacting to macroeconomic shifts, including currency fluctuations and interest rate expectations, though copper’s move was primarily tied to supply concerns and risk-on sentiment. No specific price levels or forecast targets were cited in the excerpt provided.