Copper Climbs to a Record in London, 31-Month High in New York -Shanghai Metals Market

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Copper Climbs to a Record in London, 31-Month High in New York

Industry News 03:57:05PM Dec 21, 2010 Source:SMM

Dec. 21 (Bloomberg) -- Copper climbed to a record in London and advanced to a 31-month high in New York on optimism the economic recovery in the U.S. remains on track, boosting the demand outlook for the metal amid supply disruptions at the world’s third-largest copper mine.

The metal for three-month delivery on the London Metal Exchange rose as much as 0.8 percent to $9,274 a metric ton, and traded at $9,268 by 2:58 p.m. Singapore time. Futures on the Comex in New York gained as much as 1 percent to $4.2465 a pound, the highest price since May 2008
 

 

 

 

Copper Climbs to a Record in London, 31-Month High in New York

Industry News 03:57:05PM Dec 21, 2010 Source:SMM

Dec. 21 (Bloomberg) -- Copper climbed to a record in London and advanced to a 31-month high in New York on optimism the economic recovery in the U.S. remains on track, boosting the demand outlook for the metal amid supply disruptions at the world’s third-largest copper mine.

The metal for three-month delivery on the London Metal Exchange rose as much as 0.8 percent to $9,274 a metric ton, and traded at $9,268 by 2:58 p.m. Singapore time. Futures on the Comex in New York gained as much as 1 percent to $4.2465 a pound, the highest price since May 2008