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Copper Reaches Highest Levels in More than Seven Years

M. Ali 2 December, 2020 1:54 am Commodities, Market Update

Copper futures rose on Tuesday to their highest level in about seven years, continuing a strong rally supported by increased demand and strong investors’ appetite for the red metal.

Strong manufacturing data in China, and relatively in the United States, are also providing support for copper.

Copper futures for March delivery gained 5 cents, or 1.4%, and settled at $3.485 per pound, after going above 3.52 earlier in the session, reaching its highest level since March 2013.

In November, copper futures rose by about 13%.

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