Copper rose above $3 a pound for the first time in more than two years on Wednesday, extending a recent rally driven by steady Chinese demand and disruptions to global supply. Most actively traded copper futures for delivery in September added 1.6% to $3.0230 a pound, the first time they have eclipsed the closely watched $3 level since June 2018. Many analysts think that $3 copper incentivizes miners to pursue longer-term projects to extract metal. A dearth of investment in new mines due to low prices in recent years is one...

Source: Wall Street Journal August 19, 2020 16:15 UTC