The price of copper exceeded USD 6,000 per ton for a short while on Friday, November 11 and was on its way to marking the largest weekly growth ever, Bloomberg reports.
Metals are currently the focus of attention of investors, who are still deliberating on the promise made by Donald Trump about injecting large amounts of money in the American infrastructure.
The price of copper in New York rose by as much as 7.6% to USD 6,025 per ton, the largest daily growth since 2009, whereas, in London, it amounted to USD 5,956. Last week, the price rose by 19%, the largest weekly growth sine 1986.
In only three weeks, prices of copper jumped by as much as 28%.
The prices of other industrial metals also increased, with nickel jumping by 1.8% and zinc by 0.9%, Blooberg writes.
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