Image: GB database
Copper prices extended gains to hit all-time highs on Wednesday as robust US economic growth boosted demand prospects for the metal, with supply constraints further bolstering prices.
The most-active copper contract on Shanghai Futures Exchange SCFcv1 closed daytime trading up 2.3 per cent at 95,080 yuan ($13,551.88) per metric ton, as of 0723 GMT, after touching a record high of 96,510 yuan earlier in the session.
The benchmark three-month copper on the London Futures Exchange CMCU3 rose 1.3 per cent to $12,220.0 a tonne. It hit a record high of $12,282.0 earlier in the day.
The contract has registered a 39 per cent annual rise on US dollar weakness, bets of further Fed rate cuts, growing demand for AI and the renewable energy transition, and mine supply disruptions that have fueled speculative investment in the metal.
