Supply concerns from top producer Chile and a Chinese equities bull run sent Shanghai copper to its highest level in more than 16 months on Thursday, while prices in London hit a near six-month peak.
The most-traded August copper contract on the Shanghai Futures Exchange rose as much as 2.3% to 50,800 yuan ($7,270.75) a tonne, its highest since March 4, 2019, before closing at 50,700 yuan a tonne, up 2.1%.
Three-month copper on the London Metal Exchange (LME) advanced as much as 1.6% to $6,332 a tonne, a level unseen since Jan. 16.
Metal Tiger Plc (LON:MTR) is a London Stock Exchange AIM-listed investing company primarily focused on undervalued natural resource opportunities.