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Copper's rally slows at 9-1/2 year highs as equities struggle

From reuters.com

Copper touched a new 9-1/2 year high on Tuesday before slipping back as equities markets fell and investors wondered whether strong demand and tight supplies were enough to extend a breathtaking rally. With U.S. stock markets down around 1%-2%, benchmark copper on the London Metal Exchange was 0.3% higher at $9,120 a tonne at 1523 GMT, having reached $9,305, the highest since August 2011. Prices have shot up 16% in February, the biggest monthly rise since November 2016, taking gains since the start of 2020 to around 50%. Many analysts expect demand from the power and construction industries to overwhelm supply, ... (full story)

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  • Category: Fundamental Analysis