METALS-Copper pushes towards highest since 2013 with $8,000 in sight

LONDON, Dec 17 (Reuters) - Copper prices neared their highest in almost eight years on Thursday as stockpiles around the world fell, the U.S. Federal Reserve promised to pump more money into markets and hopes for a U.S. stimulus package this week grew.

Investors bought riskier assets across the board, sending global equities to new peaks, oil prices to a nine-month high and the dollar to its weakest since April 2018.

Benchmark copper on the London Metal Exchange (LME) was up 1% at $7,914 a tonne in official rings, nearing last Friday’s peak of $7,973.50, the highest since February 2013.

“$8,000 is once again in reach,” said Saxo Bank analyst Ole Hansen. “It’s part of the continued everything rally we’re seeing across markets.”