Copper on the LME is currently valued near its highest levels for the year, and in November could provide the largest monthly gain since April 2006. The metal is up more than 20 percent this month.
There is optimism in the markets and expectations that global spending on industry and infrastructure development will increase in the next year. This sets in motion a wave of good sentiment among investors and encourages them to buy raw materials, including industrial metals.
Nelson Pizarro, president of Codelco, the world's largest copper producer, said: "We need to make sure the promise of President-elect Donald Trump to increase infrastructure spending comes true." During the US election campaign, Trump said that infrastructure spending could reach one trillion US dollars.
November could be the best month for copper in 10 years
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Azovpromstal® 28 November 2016 г. 10:53 |
