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Copper at Highest Since 2012 as Global Equities Extend Gains

  • Prices extend gains in London after best week since July
  • Global market at risk of a ‘sizable’ deficit, BI analysts say
Branded binding secures newly-made copper cathode sheets in the electrolysis shop at the Uralelectromed Copper Refinery, operated by Ural Mining and Metallurgical Co. (UMMC), in Verkhnyaya Pyshma, Russia.
Photographer: Andrey Rudakov/Bloomberg
Updated on

Copper climbed to the highest level since 2012 as a risk-on mood across global markets helped to lift equities and put pressure on the dollar.

Prices have soared on optimism that the use of coronavirus vaccines will aid a rebound in global growth. Copper climbed 5.3% last week on the London Metal Exchange, in the biggest gain since July.