Copper on a runaway move up tonight, pushing almost 10 year highs as I write tonight.
Given Hammer's recent copper discovery at Trafalgar and highly prospective ground it holds at Mount Isa market must start to take notice and value.
This extract from Reuters tonight, copper up 10% this month, what I love in this article is that they are believing this is the beginning of a multi year bull run for the red metal.
This not surprising given coppers applications in renewable energy sector and electric cars. And given the Covid pandemic talk is the health sector and experts closely looking at copper as an antibacterial in clinical applications given its bacterial killing properties. (DYOR)
Hoping for an exciting days trading tomorrow.
Good luck to all holders .
Cheers Aussie
Reuters
Publishing date:
Feb 18, 2021 • 8 minutes ago • 2 minute read Article content
LONDON — Copper surged nearly 3% to its highest since April 2012 on Thursday as Chinese investors returning from a week-long holiday added impetus to a rally that has almost doubled prices from lows at the height of coronavirus worries last March.
Other industrial metals also leaped, with aluminum at its highest since 2018, nickel its best since 2014 and tin its strongest since 2012.
Benchmark copper on the London Metal Exchange (LME) was up 2.6% at $8,605.50 a tonne at 1149 GMT after touching $8,630. Prices are up around 10% this month.
Its gains echoed action in China, where the most-traded copper contract on the Shanghai Futures Exchange rose as high as 63,290 yuan ($9,784) in heavy trading, up almost 6% and its highest since September 2011.
Underpinning the rally is resurgent demand in China, the biggest metals consumer, expectations of tight supply and a rush of speculative investment, with many analysts predicting a multi-year bull run.
