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Copper prices hit highest note

KALONDE NYATI, Lusaka
THE price of copper on the London Metal Exchange (LME) yesterday hit its highest since mid-November, trading at US$4,815 a tonne as risk appetite remains strong, fueled by a revival in share markets and commodity prices.
According to Reuters, three-month copper on the LME earlier rose as much as 0.5 percentage point to US$4,815 a tonne, before tailing back to flat at US$4,789 at 03:37 GMT.
The development has fanned hopes of the rebound of the global economy.
Commenting on the development, Hong Kong based Argonaut Securities analyst Helen Lau said, “Copper has been quite strong recently – on the macro front, liquidity pro-growth policies from China are supporting sentiment and US data has been strong”.