Business

Copper price keeps soaring

TRUCKS with copper at the Zambia-Botswana Kazungula Border Post. PICTURE: EDDIE MWANALEZA

STEPHEN PHIRI, Lusaka
THERE is a reason for Zambians to smile as the price of copper on the London Metal Exchange yesterday continued soaring reaching US$9,909.50 a tonne.
“Three-month copper on the London Metal Exchange advanced 0.9 percentage point to US$9,909.50 a tonne. The global copper market should see a surplus of 79,000 tonnes this year and of 109,000 tonnes in 2022,” the International Copper Study Group (ICSG) said on Monday.
The price of copper, which is Zambia’s main foreign exchange earner, was US$9,895 a tonne on Monday.
Oil prices extended gains yesterday as more United State of America states eased lockdowns and the European Union sought to attract travellers, helping to offset concerns over fuel demand in India as coronavirus cases soar.
Brent crude futures rose 6 cents, or 0.1 percentage point, to US$67.62 a barrel after CLICK TO READ MORE



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