Copper prices surged to their highest level in 15 months last week, driven by a confluence of factors.

Supply concerns: recent disruptions at Chinese smelters, which account for over half of the world's refined copper production, have raised worries about a potential supply squeeze. These disruptions come at a time of already tight supply, further fueling the price increase.

China's demand recovery:  adding to the bullish sentiment, China, the world's largest consumer of copper, is showing signs of an economic rebound.  

Manufacturing activity in March exceeded expectations, and data suggests rising domestic consumption.  Investors are betting on this recovery to translate into stronger demand for the metal.

Bullish calls:  analysts are chiming in with optimistic forecasts.  Citigroup predicts copper is entering a new bull market phase, driven by the surging demand for copper in renewable energy and decarbonization efforts. 

They believe only higher prices will be enough to address the looming supply deficits.

ASX miners share the gains:  the positive sentiment in the copper market is translating to gains for ASX-listed copper miners and explorers. 

Shares of these companies have been on an upward trend in recent months, reflecting the rising copper price.

Sandfire Resources (ASX:SFR): shares up 28.29% YTD

It’s a copper mining company with operations in Western Australia, Spain and Botswana. The company's flagship asset is the DeGrussa mine in Western Australia, which is one of the world's lowest-cost copper mines.

Hot Chilli (ASX:HCH): shares up 20.98% YTD

It’s an Australian copper developer with a focus on the Costa Fuego Copper-Gold Project in Chile. 

Aeris Resources (ASX:AIS): shares up 116% YTD

It’s a mid-tier base and precious metals producer with a portfolio of operating assets, development projects, and exploration interests in Australia.

Celsius Resources (ASX:CLA): Shares up 16.67% YTD

A dual listed Australia-based mineral exploration and development company focused on advancing its flagship MCB Copper-Gold Project in the Philippines.