Copper rose to $7,580 per tonne at 5pm on Monday, up by 1% from Friday’s closing price of $7,499.50 per tonne and setting a new year-to-date high.
The red metal also went up to $7,708.50 per tonne in the day’s trading, just $1.50 per tonne below the $7,710 per tonne high seen on March 25, 2013.
There was a little more than 31,100 lots of the metal exchanged on the LME on Monday. No volume above 31,000 lots has seen since July 13 this year, when 34,340 lots were traded.
Copper and aluminium were supported by a low US dollar index, which was 91.88 at 5:15pm. This came alongside news that biopharmaceutical company Moderna...