Copper prices surged to $12,845 per metric ton on the London Metal Exchange, marking a 4% increase for the week and the highest level since March 17. This rise is attributed to signs of improved demand in China, where copper inventories monitored by the Shanghai Futures Exchange (SHFE) fell by 11.5% this week, contributing to a 37% decline since early March. The Yangshan copper premium, which indicates demand for imported copper into China, reached $73 a ton, the highest since June of the previous year. However, the market remains cautious due to a fragile ceasefire between the U.S. and Iran, which is under strain ahead of negotiations in Pakistan. Analysts suggest that while demand in China is strong, the geopolitical situation could impact future pricing. Other metals also saw movement, with LME aluminium rising 1.1% amid supply concerns related to the Strait of Hormuz.