Kitwe & District Chamber of Commerce and Industry

COPPER PRICES RISE BY 45 P.C

COPPER PRICES RISE BY 45 P.C

Copper prices have soared 45 per cent since mid- March this year despite the International Monetary Fund (IMF) downgrading its global forecast owing to the outbreak of the COID-19 pandemic. Data from Bloomberg indicates that the “red metal” in London reached $ 6, 360 a tonne at one point on Thursday, the highest since May 2019 before slipping back to Monday’s $6, 300. The gains in copper prices have been driven by concerns over low supply from key producrs in South America. “ Thousands of copper workers have fallen ill in Chile, which is by far the world’s largest producer of the metal, accounting for more than a quarter of global supply. Source: Times of Zambia Newspaper.

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