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Copper surges to £ 5.31 / kg as stocks surge to 274 kT

News of a possible break through in the development of a Covid19 vaccine and stronger than expected demand from China has boosted the price of copper back to where it was in February and boosted the share price of the mining companies.

The jump in copper stocks reflects continuing worldwide suppressed demand and the delay between vaccine trials and global availability, without which there will not be a sustain economic revival.

Will the markets continue to boost the price of copper or will the cost of the increasing copper stocks pull the price back down ?