Key economic bellwether copper tops $9,000 for first time as new bull market begins
Copper prices on Wednesday topped $9,000 per metric ton for the first time since June as the economic bellwether embarks on a new bull market.
Prices on the London Metal Exchange climbed as much as 1.8% to $9,074, marking a fifth consecutive increase. Copper is starting off 2023 with a gain of 8%.
The third most widely used metal in the world slipped into a bear market in June, when it crashed more than 20% from a peak above $10,700 per metric ton in May 2021.
But copper has rallied more than 20% from its low last year amid hopes for a rebound in demand in China and as the US dollar weakens.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)