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Why copper is on pace for its best year since 2009
The metal's 3-month price on the London Metals Exchange hovered around $12,222 per metric ton on Tuesday, down slightly from a record high of $12,960 per metric ton on Monday. That puts copper up 42% from levels at the start of the year, marking its best year-to-date gains since 2009. As of Tuesday, the metal notched its eighth straight day of wins, its longest winning streak in eight years, according to an analysis from top economist David Rosenberg. For copper — an industrial that's taken the backseat to precious metals in recent years — there are a few things that explain its blistering rally: Hype for ... (full story)
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