KALONDE NYATI, Lusaka
THE price of copper on Monday hit its highest in more than two years on the global market after news of progress on a coronavirus vaccine and investor optimism over global trade after Joe Biden’s victory in the United States of America presidential race.
Reuters reports that the price of copper, which is Zambia’s main source of export revenue, rose to US$7,045 a tonne.
“Three-month copper on the London Metal Exchange (LME) rose 1.4 percent to US$7,045 a tonne in official trading, its highest since June 2018,” Reuters reported.
The rise in the price of copper, if sustained, could cushion the Kwacha, which has been on a downward trend, from further depreciation.
The Kwacha has been trading in the newly found levels of the 20th mark against the US dollar as CLICK TO READ MORE