The price of copper reaches the highest level in two years – BauskasDzive.lv

The price of copper exceeded the $10,000 mark for the first time in two years on Friday due to increased demand and supply shortages.

Content will continue after the ad.

The price of copper on the London Metal Exchange reached 10,028 dollars per ton in the morning trading session on Friday, which is the highest level since April 2022. In the continuation of the trading session, the price of copper decreased slightly.

Copper is in the spotlight after the world’s largest mining company, Australia’s BHP Group Limited, made a $38.8 billion takeover bid for British rival Anglo American on Thursday, with the aim of creating the world’s biggest copper miner.

“Anglo American” rejected this offer on Friday, considering that the amount offered was insufficient.

Content will continue after the ad.

BHP’s interest in copper mining has increased in recent years, given the rapidly growing demand for this metal, which could play a major role in the global energy restructuring. Copper is widely used in the production of solar panels, power grids, electric cars and rechargeable batteries.

Photo: pixabay.com