By BUUMBA CHIMBULUEXPERTS have predicted that commodities prices may stay high for decades as mining companies struggle to keep up with demand from the energy transition.Yesterday, copper prices in China hit a more than two-month high supported by concerns of supply tightness amid persistent low inventories.The most-traded February copper contract on the Shanghai Futures Exchange was up 1.5 percent at US$11,256.07 a tonne, the highest since October 2021.Three-month copper on the London Metal Exchange was down 1.1 percent at US$9,949.5 a tonne, but held closer to US$10,072, its highest level since October 2021, hit in the previous session.On Wednesday, the copper price rose as worries eased about economic growth in top metals consumer China and positive sentiment swept the commodity sector.March delivery contracts were exchanging hands for US$10,140 a tonne on the Comex market in New York in midday trade, up 3.5 percent compared to Tuesday’s closing and the highest since October.That trend is unlikely […]
COPPER HITS $11,000 A TONNE
