Bullish copper narrative continues to build

New chapters of the copper success story that started in 2020 are being written as the tawny-colored metal basks in the glory of global climate pledges, and an economic recovery from the pandemic underpinned by strengthened industrial demand.

Price surge

Copper on Tuesday extended gains to the highest in a decade on the back of a return to global growth especially in China, the first country to recover from the pandemic, and the United States, whose economy is plowing ahead despite remaining under the thumb of covid-19.

Economists expect the US economy grow at an annualized 6.8%, following a 4.3% GDP expansion in the first quarter.