Despite wobbles, demand to push copper price
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Copper prices jumped again on Thursday on bets that the trend of rising demand remains intact despite hard-to-read daily market gyrations.
Copper for delivery in May jumped as much as 2.57%, with futures touching $4.137 per pound ($9,101 a tonne) on the Comex market in New York.
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Copper surged to the highest in almost a decade last month on strong Chinese buying and as investors poured into commodities on the prospect that vaccinations and stimulus would unlock a sharp global recovery. Since then, futures have retreated about 6% as the dollar and bond yields rose.