copper becomes the new gold, page-2

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Another 25% increase in the price of copper to come!!

The halt of supplies from the Collahuasi mine in Chile, at a time when demand is already outpacing supply, will further tighten the global copper market, traders said.

Analysts, traders and senior mining executives believe copper prices could surge next year as high as $12,000 a tonne on the back of the growing shortage.

On the London Metal Exchange, copper for delivery in three months rose to a nominal record of $9,392 a tonne, up 2.1 per cent on the day. Copper prices have surged nearly 26 per cent since January and by nearly sixfold since 2000.