copper price.
Metal prices were also stronger this week as investors were attracted by tight supply and demand balances in key metal markets including copper, nickel and zinc.
Copper prices gained about 6 per cent, touching a two-month high of $7,885 a tonne on the London Metal Exchange, before trading at $7,750 in late trade, down $130 from the previous close. Copper has now risen 22 per cent since mid-June but is still about $1,000 below the record high of $8,790 reached on May 11.
This week’s rise has reflected a continued fall in copper stockpiles at LME registered warehouses, with supplies falling short of expectations due mainly to mine strikes.
Should see Anvil share price strengthen and buyers move in late this week and/or early the following week (17th onwards).
AVM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
