Copper hits record high after Citi lifts price outlook

From brecorder.com

Copper touched a record high on Friday, after Citi lifted its price outlook for the industrial metal, with supply concerns and optimism around a likely interest rate cut by the US Federal Reserve next week underpinning the market. The most-active copper contract on the Shanghai Futures Exchange rose 1.18% to 91,860 yuan ($12,992.56) per metric ton as of 0330 GMT, after hitting an all-time high of 92,000 yuan a ton earlier in the session. The Shanghai copper is set to end the week 5.33% higher. The benchmark three-month copper on the London Metal Exchange also gained 0.95% to $11,558.5 a ton, after setting a peak of ... (full story)