Jan. 29 at 1:32 PM
Shares of copper miners rallied sharply on Thursday as copper prices surged to record highs above
$14,000 per metric ton, fueled by speculative buying and expectations of sustained global demand. Benchmark three-month copper on the London Metal Exchange jumped as much as 7.9% to
$14,125 per ton during Asian trading before paring gains, while the most active Shanghai Futures Exchange contract climbed 6.7% to 109,110 yuan. Mining stocks across the sector advanced, reflecting investor optimism tied to the metal’s strong price momentum.
Analysts noted that the price surge is being driven by factors beyond traditional supply-and-demand dynamics, including increased investor interest in physical assets such as gold and silver, which have also reached record highs amid ongoing geopolitical tensions. Additionally, a weaker U.S. dollar, trading near multi-year lows, has provided further support by making copper more affordable for buyers using other currencies.
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