Copper heads into record territory

Copper prices hit a new record as relentless Chinese demand and a potential supply shock from Chile highlighted supply concerns, according to Matt Whitaker of The Wall Street Journal. China, the world's No. 1 consumer of the red metal, released data ...
Nov. 12, 2010

Copper prices hit a new record as relentless Chinese demand and a potential supply shock from Chile highlighted supply concerns, according to Matt Whitaker of The Wall Street Journal.

China, the world's No. 1 consumer of the red metal, released data showing that industrial output and capital spending were holding steady even though Beijing has recently taken steps to cool investment in real-estate and other sectors. That sent the benchmark futures contract to a record $8,966 a ton in London, the world's biggest metals trading hub, while copper in Shanghai hit 70,150 yuan, or $10,557.10, a ton.

WSJ story (subscription required)

About the Author

Doug Chandler, Senior Staff Writer

Executive Editor

Doug Chandler began writing about the electrical industry in 1992, and still finds there's never a shortage of stories to be told. So he spends his days finding them and telling them. Educationally, he's a Jayhawk with an English degree. Outside of work, he can often be found banging drums or harvesting tomatoes.