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KEFI Minerals Plc

Copper prices reach 5-month peak

Copper prices soared to their highest level in more than five months overnight due to strong demand prospects in top consumer China and worries about supplies from Chile, the world’s largest producer of the red metal.

Benchmark copper on the London Metal Exchange touched its highest mark since January 21 at $US6,195 a tonne. It was up 0.9 per cent at $US6,182 a tonne at 1600 GMT.

Prices of the metal used widely in the power and construction industries are up more than 40 per cent since hitting four-year lows 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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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.