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Copper price rally fueled by concerns over supply for immediate delivery

From mining.com

Copper prices climbed back towards $10,000 per tonne on Tuesday, supported by prospects for higher demand while inventories dwindle. Copper for delivery in July was up 0.7% by 10:23 am (EDT), with futures at $4.9813 per pound ($9,9627 a tonne) on the Comex market in New York. On Thursday, the copper price topped $10,000 a tonne for the first time since 2011, nearing the all-time high set that year. “It’s a tremendously positive story for copper at the moment and in the long term,” WisdomTree analyst Nitesh Shah told Reuters. “Over the next few years we are likely to see copper demand increase and that will support ... (full story)

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  • Category: Fundamental Analysis