Copper futures are extending their gains to kick off the first trading session since the Easter long weekend. The industrial metal benefited from supply concerns after a decline in supplies and major producers suspending operations. With demand still slumping amid the coronavirus pandemic, it is unclear if this is a short-term boost or if the red metal can sustain the rally.
May copper futures picked up $0.048, or 2.12%, to $2.3075 per pound at 17:03 GMT on Monday on the Comex division of the New York Mercantile Exchange. Last week, copper posted a 6% weekly gain, paring its year-to-date loss to around 17%.
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.