Tuesday, April 6, 2010

Copper Hits 20-Month High on Signs Economy Will Help Demand

Copper prices are at their highest levels since August 2008 after signs the economy is turning around. A government report shows US employers added the most jobs in three years, adding to the positive outlook for raw-materials demand. Copper is currently at $3.60, after a $0.07 increase in the first few hours after markets re-open from the holiday on Monday.

- Employment in the U.S. rose by 162,000 jobs last month, the most since March 2007
- Copper has surged 82% in the past 12 months as the economic recovery raised demand from builders and manufacturers
- Copper gained 8.2% in March, the biggest monthly increase since July
- The construction industry is the biggest user of copper. We could see some dramatic price increases once new home sales are on the rise again

1 month ago, copper price was at $3.39

2 months ago, copper price was at $2.86

6 months ago, copper price was at $2.76

1 year ago, copper price was at $1.90

5 years ago, copper price was at $1.58