Copper prices bounced back on Wednesday 11 November as a fresh wave of enthusiasm for artificial intelligence lifted markets and tight physical supply in China kept the metal's fundamentals firm. Three-month copper on the London Metal Exchange (LME) rose 0.8% to $13,793 a metric ton, after a 1.6% drop the previous day, [Finimize](https://finimize.com/content/copper-rebounds-as-ai-optimism-returns-and-china-tightens-supply) reported, citing Reuters. The recovery tracked a broader rally in stocks after strong results from AI cloud provider CoreWeave eased doubts about the heavy spending behind the AI boom. The tightest pressure is in China. Spot premiums for copper cathode there have jumped as smelter output fell and seaborne arrivals stayed limited. That has kept the Yangshan import premium, the surcharge paid to bring refined copper into China, at a record $230 a ton for a third straight day, signalling that buyers are willing to pay up for immediate supply. ## London miners ride the recovery London-listed miners rose in opening trade on the copper rebound. Antofagasta was up 3.3%, while Glencore and Anglo American were both 2.5% higher, according to the [Wall Street Journal's market roundup](https://www.wsj.com/business/basic-materials-roundup-market-talk-0b279678), which linked the gains to the AI optimism and the metal's role in data centres. ## Gains may prove fragile Analysts cautioned that the rally could fade. Everbright Futures noted that a stronger US dollar and expectations of further Federal Reserve tightening after hotter-than-expected US inflation data may cap gains. For now, though, the combination of firm Chinese demand and scarce nearby metal has put a floor under prices.