Copper Homes in on $10,000 a Ton as Supply Angst Continues

Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that miners will struggle to service a surge in demand for the bellwether industrial metal.

Base metals have posted broad gains in recent weeks, and copper opened Monday with a fresh advance to $9,988 a ton. Signs of improvement in manufacturing activity from the US to China have buoyed metals, although geopolitical risks and renewed uncertainty over monetary policy are clear risks.