Posted on

Copper climbs to £7.96 / kg as stocks ease to 123kT

Speculation in copper futures is driving the LME price of copper up to levels not seen since 2011. A resurgence in COVID mutations is likely to dampen the global economy and ease pressure on the price of copper.

However, long term price stability will only happen if supply exceeds demand enought o rebuild physical stocks, and that could be hampered by a resurgence in virus outbreaks until there have been enough vacinations globally to bring the pandemic under control.