Copper Hits Record Above $13,000 as Bulls Eye US Import Rush

Copper extended its powerful rally after bursting through $13,000 a ton for the first time, as a renewed rush to ship metal to the US fired up bullish traders and investors.

Benchmark prices surged as much as 1.5% to a record $13,187 a ton on the London Metal Exchange, following a gain of more than 4% on Monday. The metal has now racked up an advance of more than 20% since mid-November.