Copper prices soar
Published On July 8, 2021 » 1768 Views» By Times Reporter » Business, Stories
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By KENNEDY MUPESENI
COPPER prices advanced on Monday on hopes of stronger demand for metals after data showed acceleration in hiring in the United States. US companies in June hired the most workers in 10 months, raising wages and offering incentives to entice millions of unemployed Americans. “Wage growth tends to lead to strong demand for durable goods, a key sector for the metals markets,” ANZ analysts said in a note. Copper for delivery in September rose 1.9 per cent from Friday’s settlement price, touching $9,587 per tonne midday Monday on the Comex market in New York.

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