0
LONDON, April 25: The price of copper leapt to the highest-ever level here on Tuesday, spurred by massive investment and speculative demand, dealers said.
Three-month copper prices on the LME touched $7,040.00 per ton — the highest point since copper was first listed in its current format in 1870.
The price of copper, used for electrical wiring and plumbing, has leapt by 55.0 per cent since the start of 2006. That compared with a gain of 50.0 per cent during the whole of 2005.
Elsewhere on Tuesday, the price of nickel struck a record high $20,000 per ton on the LME, boosted by the rise of copper and production delays in New Caledonia, dealers said.—AFP
