Benchmark copper on the London Metal Exchange (LME) was up 1% at $7,915.50 a tonne at 1700 GMT, nearing last Friday's peak of $7,973.50, the highest since February 2013. "$8,000 is once again in reach," said Saxo Bank analyst Ole Hansen. "It's part of the continued 'everything rally' we're seeing across markets."
LONDON, Dec 17 (Reuters) - Copper prices neared their highest in almost eight years on Thursday as stockpiles around the world fell, the U.S. Federal Reserve promised to pump more money into markets and hopes for a U.S. stimulus package this week grew.
Buoyant investors sent global equities to new peaks, oil prices to a nine-month high and the dollar to its weakest since April 2018 -- helping dollar-priced commodities by making them cheaper outside the United States.
Get 30% off with our ads free Premium Plan!
