Copper Soars to Near Decade High Amid Economic Recovery Hopes

From traderslog.com

Copper futures climbed higher on Tuesday, reaching the highest levels since August of 2011. The price of copper, the world’s most important industrial metal, has more than doubled since the lows posted last March. The boom in electric vehicle manufacture along with copper’s other electrical uses have sparked the interest of investors. Goldman Sachs recently raised its 12-month target to US$10,500/t. Optimism over the rollout of the Covid-19 vaccine and a global economic recovery has also boosted copper along with other cyclical assets. Analysts expect rising demand for copper from the power and construction ... (full story)