Business

Copper price reaches $10,628 a tonne

MINERS processing copper at one of the mines on the Copperbelt.

KALONDE NYATI, Lusaka
WITH copper prices yesterday climbing to record high in both London and Shanghai markets, Zambia Consolidated Copper Mines -Investments Holdings (ZCCM-IH) is optimistic that the development will boost revenue for Mopani Copper Mines.
The prices have continued rising breaching the US$10,000 mark as hopes of improved demand and tight supply fuelled sentiment.
Three-month copper on the London Metal Exchange touched its all-time high level of US$10,660 a tonne earlier in the session before easing to US$10,628 a tonne, but still up by two percent.
The most-traded June copper contract on the Shanghai Futures Exchange climbed by 4.2 percent to 77,260 yuan (US$12,014) a tonne.
ZCCM-IH chief investments officer Brian Musonda said with the acquisition of the mine by his organisation on behalf of CLICK TO READ MORE



Facebook Feed

Ad1