Copper prices closed higher on Friday, lifted by rising oil prices and increased optimism that China’s economy is starting to stabilize.

Copper for May delivery settled up 0.6% at $2.2645 a pound on the Comex division of the New York Mercantile Exchange and traded as high as $2.3020 earlier in the session.

U.S. oil futures were recently up 1.1% to $43.67 a barrel on Friday. A gain in oil prices tends to help copper, since the two commodities are often traded in one basket, with a larger share allocated to oil.

George Gero, managing director at RBC Wealth Management, said both commodities benefited Friday from the possibility of more stimulus overseas. On Thursday, the European Central Bank decided to keep rates unchanged and hinted at implementing further cuts if necessary.