(Central News Agency, London, 22nd Comprehensive Foreign Telegraph Report) The price of base metals has soared today. Among them, the price of copper has exceeded US$9,000 per ton, a new high since 2011. The market is optimistic about the economic recovery from the epidemic, which may cause a historical shortage of brass. Push up the price of copper and move towards a record-breaking consecutive monthly increase.
Bloomberg reported that the three-month copper futures price on the London Metal Exchange (LME) once touched US$9,187 per ton, the highest since 2011, and reached US$9141.050 at 11:02 am Singapore time. China's Shanghai Futures Exchange, copper futures prices rose by the limit today.
The prices of other metals also rose. The price of nickel futures on the London Metal Exchange hit US$200,10 per ton, and the price of tin also hit a high since 2011.
Copper prices have risen by more than 3% today, and this month has entered an unprecedented 11th consecutive month of gains. The market expects that after the epidemic crisis, short-term supply may not meet demand, and metal prices are soaring. Not only has the outside world increased speculation about the super cycle of new commodities, but with the economic recovery, it has also raised doubts about rising prices.
Shanghai Jinxin Futures analyst Jia Zheng said: "Under the anticipation of a new cycle of global inflation, market sentiment is high. Chinese investors return to the market after the New Year holiday and are waiting for more measures in the United States and Europe. Due to the travel ban. Boosting consumption, China's demand exceeds expectations."
Credit by https://www.cna.com.tw/news/firstnews/202102225004.aspx
