Chinese demand sends copper prices over £2,000
29 August 2012
Metal buyers are suffering massive price increases caused by low stock levels and compounded by insatiable demand from China.
Prices on the London Metal Exchange have risen continuously, with copper reaching £2,000/tonne in June.
It is the first time copper prices have topped £2,000 since April 2004 – which at the time broke a nine-year record. In addition, copper stocks have fallen to their lowest level in 30 years.
According to Barclays Capital, copper prices could continue to...