Copper at yesterday's trading rose to its highest level in 11 months amid news about the reduction of its production in China. At the end of the trading session at the London Metal Exchange quotations rose by 3.05% to $ 8921 per ton, which is the highest level since the end of April last year. At the Chinese exchange Shanghai Futures Exchange they reached a two-year peak, reports the agency "Prime".

China processes about 50% of the world's copper. However, revenues in the industry, which had been falling for several decades, have now reached a minimum, helped by a shortage of ore and an increase in the number of copper smelters abroad, the publication specifies. In this regard, as it became known yesterday, the largest Chinese enterprises decided to reduce copper production in a number of unprofitable projects for an indefinite period. The market reacted impulsively - after the release of this news, demand for the metal jumped sharply, "Prime" quotes an expert's commentary.