Copper prices continue to rise on the London Metal Exchange. The increase is affecting other raw materials as well, as all base metals are currently priced at a high of over a year in response to an optimistic assessment of a consistent recovery in global demand for raw materials.
Copper showed a minimal decline for three months, but now the metal is becoming more expensive by 0.7 percent. There is optimism in the markets and expectations that spending on industry and infrastructure development in the world will increase in the next year.
The LME Metals Index has risen more than 9 percent since the beginning of November and may be the best since 2012 this month. But some analysts are wary as the UBS Group thinks Copper has gone too far. “Copper could drop again to $ 5,000 a tonne given the level of supply and demand for the metal,” an economist at UBS said in an interview.
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