Copper prices in London increased demand due to the PRC
Quotations of futures for copper in London on Tuesday continued to rise against the background of predictions about demand growth in China and in view of the surge in oil prices.
Three-month copper futures on the LME was trading up 1.4% at 5,637 dollars per tonne on the weekly maximum. All in all, from 24 October copper rose by about 22% as investors expected an increase in demand due to the increase in government spending in China and the United States.
Other non-ferrous metals also trading up.
Aluminum rose by 1.4% to 1742.5 dollars per ton lead - 0.73%, at 2194 per ton, zinc - 1.6%, to 2616 dollars per ton, and nickel - 0.6 %, to 11 440 dollars per ton.
Copper market on Tuesday supported the improvement in sentiment after a major conference in Shanghai, said Di Perera, an analyst at brokerage Marex Spectron.
"The mood in Asia is very positive, because it is assumed that the demand in China will grow by 3-5% in the next year thanks to government incentive programs"- he added Perera.
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