Copper hit a fresh 11-month high in London, tracking a rally in US equity markets at the start of a busy week for global central-bank policy.
Prices climbed as much as 1% to $9,164.50 a ton on the London Metal Exchange, recovering from losses seen earlier after mixed economic data from China. Copper surged last week, ending a months-long spell of inertia, as investors honed in on risks to supply at mines and smelters, along with a generally more positive global economic outlook.
A slew of central-bank policy meetings this week are bringing global monetary conditions into sharp focus, as investors seek further guidance on the timing of potential interest-rate cuts. In congressional testimony earlier this month, Powell emphasized the central bank needs “just a bit more evidence” inflation is headed toward its 2% target before lowering borrowing costs.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
