Copper prices rose to a record in Thursday’s trading as worries about the supply of the metal and concerns about inflation prompted investors to purchase the industrial metal.
The price of copper for delivery in three months’ time went as high as $8,966 a tonne in London Thursday.
A strike at one of the world’s biggest copper mines in Chile raised concerns about supplies of the metal used in plumbing, heating, wiring and other products.
Prices for copper and many other commodities have been rising in reaction to the recent action by the U.S. central bank that pumped hundreds of millions of dollars into the economy.
The value of the dollar declined after the Federal Reserve decision, so the cost of products priced in dollars went up.
Some information in this story was provided by AP, AFP and Bloomberg.
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