Copper Holds Surge as Investors Return to Commodities After Drop [Yahoo! Finance]
GLENCORE PLC UNSP/ADR (GLNCY)
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Source: Yahoo! Finance
Futures traded above $13,420 a ton in London after surging 4.6% on Tuesday for the biggest gain since November 2022. Base and precious metals have moved in tandem in recent months, with gold and silver rallying on Wednesday after a steep drop earlier in the week spurred by a rise in the US dollar. Most Read from Bloomberg Chicago Office Tower Sells at an 87% Discount to Pre-Covid Price Congestion Pricing's Unexpected Winners: Suburban Drivers Forget Free NYC Buses: Just Build 41 Miles of New Subways In Praise of Urban Disorder The Oklahoma Architect Who Turned Kitsch Into Art Copper — used in pipes and batteries — has risen by about 8% this year, hitting a record above $14,500 last week. The gains have been underpinned by signs that governments could move to secure supplies, and by broad investor optimism about the outlook for demand. Prices spiked on Tuesday after a state-backed industry group in China called for authorities to boost strategic reserves of the metal,
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