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Copper price surges as demand hopes build – MINING.COM – MINING.com
On the Comex market, copper for delivery in December gained 2.85% to $3.4040 a pound ($7,488 a tonne) by mid-afternoon in New York.
The metal rose as much as 1.5% to a seven-year high of $7,511 a tonne on the London Metal Exchange.
The metal is also gaining traction as a bet on hawkish climate policies that will expand copper-rich power networks
The market remains buoyed by fiscal stimulus measures across the world, Australia & New Zealand Banking Group Ltd. analysts wrote in a note to Bloomberg.
Copper has risen about 70% since its March lows, amid the depths of the coronavirus crisis.
On Friday, data from the Shanghai Futures…
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