Benchmark three-month copper prices surged to a six-week high of $US5,269 ($8,158) per tonne on expectations that demand will increase as lockdown restrictions are eased and factories in China and Europe restart operations.
While prices have since slipped to $US5,199, this is still up significantly from its price of about $US4,371 per tonne in mid-March.
This comes after the Bank of Japan expanded its monetary stimulus program and pledged to buy unlimited amounts of government bonds and the world’s second largest car manufacturer Volkswagen reopened its factory at Wolfsburg, Germany.
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.