Copper Jumps to Record as Growth Bets Supercharge Commodities
- Metal tops $10,300 on LME as demand surge set to spur deficit
- A Bloomberg gauge of raw materials rises to highest since 2011
Newly formed copper cathode sheets in a warehouse at a smelting plant in Glogow, Poland
Photographer: Bartek Sadowski/BloombergThis article is for subscribers only.
Copper soared to a fresh all-time high as optimism about a global rebound from the pandemic boosts commodities markets.
The metal -- an economic bellwether -- is front and center in a rally that’s driven raw materials from lumber to iron ore to multiyear highs or records. Stimulus measures and vaccine rollouts are fueling prospects for a resurgence in demand that’s set to strain supply, while copper’s crucial role in the green-energy transition is expected to underpin longer-term gains.