The price of copper has risen on Monday to over $ 9000 per tonne, reaching its highest level since 2011. The buyer price rises due to optimism about the economic recovery from the COVID-19 crisis. Copper is used, among other things, in the construction, the telecom sector and in automotive industry.
The price of a ton of copper reached a level of $ 9187 on Monday in the commodity market in Singapore. The price of the metal has been rising for months in a row with the expectation that demand will rise as the global economy is recovering from the coronavirus pandemic, including China. There may be shortages. The demand for copper is often seen as a barometer for economic development due to the wide applications of the metal.
Prices of other raw materials such as nickel and tin are also increasing due to the expectation that demand will grow. These metals, like copper, are used for example in electronics and in the production of electric cars.