Sunday, June 20, 2021
Home U.S.A Iron ore and copper hit document highs on world restoration hopes –...

Iron ore and copper hit document highs on world restoration hopes – enterprise reside

Rolling protection of the newest financial and monetary information

8.20am BST

The UK’s blue-chip share index has hit a brand new 14-month excessive in early buying and selling.

The FTSE 100 jumped 37 factors to 7113 factors, because it continues to rally on hopes of an financial rebound this yr.

7.58am BST

Commodity costs are surging once more right this moment, because the financial restoration creates a scramble for uncooked supplies.

Each iron ore and copper costs have hit document ranges right this moment, extending a rally in commodities.

Iron ore at document excessive.

Essentially the most-liquid September iron ore on China’s Dalian Commodity Change leapt 5.3% to 1,214 yuan ($187.94) a tonne by 0330 GMT, after earlier touching a excessive of 1,217.50 yuan.

Three-month copper on the London Metallic Change was up 1.2% at $10,209 a tonne by 0503 GMT, after rising 1.4% earlier to hit an all-time excessive of $10,232. The contract has leapt 133% since March final yr, when demand was hit by the coronavirus pandemic.

And there now we have it: copper at new document highs above $10,200.

Proceed studying…

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