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Copper prices have rebounded from a low of $8,504 thanks to China demand and industrial demand in India while gold, silver prices continued to gain on dollar weakness that has enhanced the appeal of commodities. Copper, gold, iron ore and coal is expected to lead the commodiites rally over the next two to three years on emerging markets demand, according to Standard Chartered Plc (STAN).

Copper prices have recovered thanks to expectations of rising demand in China where premiums rose to 7-month high. Lower price levels also supported investor interest. Copper futures at London Metal Exchange slumpted to $8504 a ton on March 12 but has subsequently climbed to $9108.25. Shanghai prices have been trading ata a discount compared to London, since July and that discount has narrowed in May. Copper market is now in backwardation suggesting that spot demand is increasing. Stockpiles in LME's Asian warehouses are increasing at a slower rate, climbing 5.4 percent this month, compared with 18.5 percent last month, suggesting exports from China this month will fall from April’s record 44,595 tons,.

At India's Multi-Commodity Exchange of India (MCX), copper June contract rose from Rs 410.50 to Rs 417.70 representing a gain of 1.75% after attaining a high of 419.75. Offlate, industrial demand in India and rising physical copper demand in China have helped in recovery of prices in global markets.