Copper extends rally on tight supply, strong demand outlook

Copper extends rally on tight supply, strong demand outlook

From nasdaq.com

Shanghai copper hit its highest in more than nine years on Tuesday while prices in London rose for a fourth straight session on tight supply and expectations of strong demand. The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 rose as much as 3% to 68,090 yuan ($10,542.21) a tonne, its highest since August 2011. Three-month copper on the London Metal Exchange CMCU3 rose 1.3% to $9,214 a tonne by 0252 GMT, having hit a 9-1/2-year high of $9,269.50 a tonne in the previous session. LME cash copper was at a $35.50 a tonne premium to the three-month contract CMCU0-3, showing tight nearby ... (full story)

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