Copper hits fresh highs on strong Chinese demand, supply fears
Dec 21, 2010 | 12:37 PM
|
Copper surged to new record highs in New York on Tuesday as fresh supply issues triggered by the force majeure at Chile's Cia. Minera Dona Ines de Collahuasi SCM (Collahuasi) were magnified by data showing Chinese copper demand growth.
Contracts for March delivery, the most actively traded, settled 1.66 percent higher at $4.2760 per pound Tuesday afternoon compared with Monday's settlement of $4.2060 per pound.
The gains came as new data showed that Chinese imports of refined copper grew 37 percent month over month to 232,000 tonnes in November.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here