China accounts for more than half of global copper consumption.
© Reuters
SHUGO YAMADA, Nikkei staff writer |
TOKYO — Copper prices rose the highest in two years Friday amid signs of a tighter supply-demand relationship in China, the world’s largest consumer of the metal.
Three-month copper futures on the London Metal Exchange briefly topped $10,000 a tonne. The red metal used in everything from homes to electric vehicles is up roughly 20% this year.
