The copper price has grown slightly again and is approaching the second anniversary of the mark of 10,000 dollars per tonne. Thus, the copper price climbed to $ 9,860 per tonne for delivery in three months on the London Metal Exchange (LME). In the previous week, the copper price was a record at $ 10,190 reached on 15 February 2011. This cost per ton of copper for the euro area based company € 7548.15.
China is the world's largest consumer of copper and contributes with its robust economic growth significantly to the trend in copper prices can rise rapidly. The tightening of monetary policy by the Chinese central bank (PBOC) has been slower than many economists expected had. Although China's inflation rate was +4.9 percent in January 2011 compared to the same month, the Government is committed to growth and has a relatively lax monetary policy.
In recent weeks, could benefit from the trend in copper prices and the devaluation of the dollar. Thus, the euro rate climbed from 1.2874 to 1.3714 U.S. dollars from the 10th January 2011 and 18th February 2011. Copper is charged on the commodity exchanges in dollars. A weak dollar is therefore very often associated with rising copper prices.
copper rally
The copper tonne in December 2008 cost less than $ 3,000. Since then, the copper price has more than tripled. The industrial metal climbed by more than 7,000 dollars and learned an appreciation of +251.38 per cent in the last 27 months. One end of the increase is not in sight, because the flow is not in the largest copper mines in Chile to keep pace with rising demand. have
particular, after the financial crisis in 2008 adopted the government's economic stimulus programs copper prices moved up. Copper features high conductivity and is very strong in the construction industry used in major infrastructure projects. Even in the automotive and electrical industry, the increasing number of cable lines provides for increased copper consumption.
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