Copper Breaks 7000 dollars barrier, races ahead with blistering pace

摘要

Copper which had closed at 5,469 dollars/70 per tonne at the official session at the London Metal Exchange (LME) on Friday (March 31) rose to 7,095 dollars/96 per tonne on Friday (April 28) making significant gains in April. Copper rose to 7,000 dollars a tonne for the first time, on April 25 leading a rally in metals, as supply disruptions prompted investors to increase purchases of commodities that are offering better gains than stocks and bonds. It had rallied three per cent on Monday (April 10) to a record high from the earlier week's profit-taking as fund buying on strong fundamentals spurred the red hot metal towards uncharted territory at 6,000 dollars a tonne and above.