Copper prices jumped as China's markets reopened after the Lunar New Year holiday, with traders betting on potential relief from US tariffs. The base metal surge reflects growing optimism that trade tensions between the world's two largest economies might ease, providing a boost to industrial commodity demand.

China's return from holiday break coincided with market speculation about possible tariff reductions, though no official announcements have been made. The country's massive industrial sector consumes roughly half of global copper production, making any trade policy shifts particularly impactful for prices. Traders appear to be pricing in the possibility of improved US-China relations under the new administration.

While the tariff news remains speculative, the market reaction demonstrates how sensitive copper prices are to geopolitical developments. The metal's rise suggests investors are positioning for potential economic stimulus in China and reduced trade barriers that could accelerate manufacturing activity. Base metals across the board gained ground, but copper's move was particularly pronounced given China's outsized role in driving global demand.