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Copper hits record high in London
Copper prices were sent to a record high on Wednesday by a weaker dollar, supply concerns and tighter availability of metal in warehouses registered with the London Metal Exchange. Benchmark LME three-month copper was up 2.9% at $11,465 a tonne by 5pm GMT after touching a record high of $11,540. “Copper is looking quite bullish after breaking to new highs. There’s a decent chance prices could climb toward $12,000 a tonne from here,” said Dan Smith, managing director of Commodity Market Analytics. Heading for its largest yearly gain since 2017, copper is up 31% so far this year.
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