The red metal has been red-hot lately, rising 6.5 percent since the start of last week. In fact, copper has just enjoyed its best week since 2011.
Investors seem to be getting a bit less bearish about China, the world's biggest consumer of copper. On Friday, China's official purchasing managers' index showed mild growth in April, beating expectations. On the other hand, HSBC's April PMI came in at 48.9, indicating manufacturing contraction.
More help may have come from the recent retreat in the dollar index. Hard assets like copper tend to move inversely to the U.S. dollar, as a weaker greenback means that it takes more dollars to buy the same amount of copper.
The copper bounce has also breathed fresh life into copper-exposed stocks like Freeport-McMoRan. The mining company has seen its stock surge 14 percent since the start of last week.