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China anticipates a peak in the Covid-19 surge with an estimated 65 million weekly infections, prompting heightened measures.

WHA Corp, the country’s largest industrial estate developer, expects a pickup in Chinese investors following the reopening of borders to sustain a surge in demand for land to set up new factories.

Copper futures on the London Metals Exchange edged up 0.4% to $7 929 a ton at 12:22 p.m. in Singapore, but are still down almost 4% this week. 

Commodity cheerleader Goldman Sachs Group said its forecasts for major rises in raw materials this year hadn’t panned out well so far, but coupled that assessment with another call for a major rally. “Bulls, like ourselves, find comfort in the fact that end-use demand across the commodity complex has not shown recessionary signs and investment in supply remains elusive,” analysts including Jeffrey Currie said in a note. “But this misses the point that we were wrong on price expectations.”

Brent for July settlement advanced 0.4% to $76.27 a barrel.