Business
Copper prices are flying, but the best is yet to come – Stockhead
In late October copper prices hit 28 month highs. For investors, the best is yet to come.
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Red-hot copper prices surged 22 per cent in the September quarter — well above pre-COVID-19 levels — for their highest quarterly increase since mid-2009.
By late October prices were at 28-month highs.
Why? Stronger-than-expected demand from China, a lack of recycled scrap, and major pandemic-induced supply disruptions.
China, which consumed 51 per cent of global copper supply in 2019, has responded to the pandemic by encouraging construction activity which requires a lot…
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