Copper prices rallied above $10 000 per tonne for the first time in two years, propelled by soaring global demand and tight supplies.
Image: Pixabay Image: Pixabay, the price of copper breaching the key level for the first time since April 2022 to peak at just over $10 028.The base metal is in the spotlight after mining giant BHP launched on Thursday a $38.8 billion takeover bid for British rival Anglo American, in an audacious move to create the world’s biggest listed copper producer.
The metal faces additional upward pressure from other factors including strikes, geopolitical tensions and increasing regulation. Back in March 2022, copper had scored a record high of $10 845 per tonne in the wake of Russia’s invasion of Ukraine.
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