Copper price surges to two-year high

Copper futures prices rallied on Tuesday after the agreement of a massive economic stimulus plan in Europe, optimism about a covid-19 vaccine and ongoing worries about pandemic-hit supply from top producer South America.

Copper for delivery in September trading in New York changed hands for $2.9750 a pound ($6,560 a tonne) in early afternoon trade, up 2% from Monday’s settlement.

Copper futures prices are on track for the highest close in two years and are now up by more than 50% from the covid-19 lows struck in March.

KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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