Copper prices soared to record highs in both London and Shanghai on Monday, driven by property stimulus measures and stronger-than-anticipated industrial output data in China, alongside systematic buying.
On the London Metal Exchange, three-month copper rose by 2.7% to $10,959.50 per metric ton by 0158 GMT, having previously surged by as much as 4.1% to reach a historic high of $11,104.50.
The most-traded July copper contract on the Shanghai Futures Exchange increased by 5% to 87,470 yuan ($12,099.04) per ton. Earlier in the session, it had risen by 6.8% to a record high of 88,940 yuan per ton.
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.
