Loading ...(Reuters) – Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China’s clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday.
Benchmark prices for copper, widely used in power and construction, hit a 9-1/2 year high of $9,617 a tonne on the London Metal Exchange on Feb. 25, within striking distance of the all-time peak of $10,190 set in 2011, partly driven by optimism over coronavirus-related fiscal stimulus.