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Precious metals: copper at its highest level

14/02/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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Helped by the shortage of supplies and the hope that U.S. President Donald Trump's plans for reciprocal global tariffs won't take effect until April, copper prices hit their highest level in three months on Friday.

Three-month copper on the London Metal Exchange rose 0.8% to $9,559 per metric ton at 04:40 GMT, reaching the highest level since November 8, 2024. The most active copper contract on the Shanghai futures exchange gained 0.9% to 78,080 yuan ($10,719.97) per ton, the highest since November 6, 2024. The US Comex copper futures premium compared to the LME contract reached a record high at the beginning of

the week.

Aluminum at three months on the LME rose 0.6% to $2,620 per ton. SHFE aluminum rose 0.6% to 20,675 yuan per ton, SHFE copper increased 0.9% to 78,080 yuan, nickel increased 0.4% to 124,810 yuan, zinc rose 1.1% to 24,070 yuan, zinc rose 1.1% to 24,070 yuan, lead added 0.2% to 24,070 yuan, lead added 0.2% to 17,170 yuan, and tin rose 1.3% to

262,590 yuan.

Zinc increased 1.1% to $2,877.5, tin increased 0.7% to $32,195, lead added 0.2% to $1,992, and nickel increased 0.9% to $15,515.

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