Copper price blasts to 9-year high on demand optimism

  • 02/18/2021
  • Source:
  • by: Staff
Copper price blasts to 9-year high on demand optimism
Copper prices jumped to a nine-year high on Thursday as Chinese investors returned from a week-long holiday, adding impetus to a rally that has almost doubled prices since the height of coronavirus worries last March.

Copper for delivery in March was up 2.1% to $3.9025 a pound (about $8,603.58 a tonne) by 1 p.m. in New York, after a slight pullback from the previous day’s trading. Earlier in the session, the contract had reached $3.931 ($8,666.42), its highest since September 2011.

The resumed rally came amid massive volumes. By lunchtime more than 4.3 billion pounds of copper, worth $17 billion at today’s prices had changed hands.

Analysis and insights into the newest trends and industries shaping the world and your wealth.

The world is more dynamic than at any time in History.
New Markets are opening up. Technology is accelerating. It’s changing everything.

And creating fortunes in the process.

Dynamic Wealth Research exposes the biggest and most profitable changes for our readers.
© 2016 - 2021 DYNAMIC WEALTH RESEARCH, Privacy Policy, Disclaimer