In this file photo taken on October 16, 2018 an Indonesian worker processes copper pipes at a Nakamoto Mfg factory in Oizumi, Gunma prefecture. AFPThe price of a tonne of copper exceeded $10,000 on Thursday for the first time since February 2011 thanks to strong demand in China and the weak dollar.
Its price has risen by more than a quarter since the start of the year as the global economy begins to shake off the Covid-19 pandemic. Daniel Briesemann, analyst with Commerzbank, said that higher prices still could follow as copper would play a major role in countries’ long-term decarbonisation strategies.
Neil Wilson of Markets.com saw the rising price as being the result of a rise in demand, notably from China which swallows more than half of world production, and also supply problems from top global supplier Chile.
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