Copper Enters Bull Market in Longest Rally in a Decade
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Copper’s longest rally in almost a decade pushed the metal into a bull market on signs that supplies are tightening just as speculation mounts that demand from China will rebound.
Glencore Plc, the world’s third-biggest copper-mining company, said output of the metal slid 9 percent last quarter partly as ore grades fell. The Baar, Switzerland-based company’s results add to supply concerns after a disruption in February from an electrical failure at a site owned by BHP Billiton Ltd. Almost a 10th of global output is at risk of being lost due to labor disruptions this year, Barclays Plc estimates.