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Growth optimism propels copper to 2022 peaks
Copper prices jumped to their highest since June 2022 on Friday as investors piled into the market on expectations of a demand upswing on the back of potential cuts to interest rates in the coming months. Benchmark copper on the London Metal Exchange (LME) was up 2.2% at $9,552 a metric ton by 1140 GMT. Prices of the metal used in the power and construction industries earlier hit a session high of $9,590.50 a ton. Signs of economic recovery, particularly in top consumer China, have triggered a buying frenzy that also pushed aluminium prices to their highest since February 2023 and zinc to one-year peaks. “There’s ... (full story)