Copper nears multi-year highs on Chinese demand

Copper touched a three-week high as demand from top consumer China and the threat of strikes by miners in Chile pushed prices closer to 27-month highs reached in September, though a strengthening yuan limited gains. Benchmark three-month copper on the London Metal Exchange (LME) was down 0.2% at $6,748 a tonne fter going as high as $6,785.25. The metal used in power and construction hit $6,877.50 as the Chinese industry reopened and speculators bought into the rally.

Source: Reuters