This Morning in Metals: Copper prices rise to eight-week high

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This morning in metals news, copper prices have made gains, some General Motors parts plants will resume production this week and the Pilbara Ports Authority reported port data for April.

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Copper prices make gains

Copper prices rose to an eight-week high on the back of recovering demand in China, Reuters reported.

LME three-month copper closed last week at $5,257/mt, up 5.13% from a month prior, according to MetalMiner IndX data.

GM opening up parts plants

Ahead of a previously announced May 18 target date for the reopening of most of General Motors’ North American facilities, the automaker will restart several parts plants this week, the Detroit News reported.

The internal parts suppliers restarting production this week are: Lockport Components in New York; DMax Ltd. in Moraine, Ohio; and the St. Catharines Propulsion Plant in Ontario.

Pilbara throughput up 5% in April

Australia’s Pilbara Ports Authority reported port data for April, noting a 5% year-over-year increase in April throughput.

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The Port of Port Hedland, a critical iron ore terminal, registered throughput of 45.7 million tons, which marked a 7% year-over-year increase.

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