METALS-Copper hits near 8-year high on more U.S. stimulus hopes

  • 01/06/2021
  • Source: Reuters
  • by: Mai Nguyen
METALS-Copper hits near 8-year high on more U.S. stimulus hopes
HANOI, Jan 6 (Reuters) - Copper prices climbed to their highest in nearly eight years on Wednesday amid hopes for more U.S. stimulus as Democrats edged closer to taking control of the Senate.

Democrats won one hotly contested U.S. Senate race in Georgia and pulled ahead in a second, potentially giving the power to advance Democratic President-elect Joe Biden’s policy goals.

“If the Democrats manage to take control of the Senate it is seen as a bullish sign as President-elect Joe Biden will have an easier time to get his policies through and his party has opted for more stimulus than the Republicans,” said commodities broker Anna Stablum of Marex Spectron in a note.

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