The price of copper keeps rallying in London. It has already reached $ 8254 per ton, according to the LSE data. In New York at Comex a pound of copper costs $3,744.
This week China’s stock market is closed for Chinese New Year.
On Saturday China reported that in Dec 2011 it increased its import of copper by 78% (y/y) up to 406 937 ton. This was the 9th consecutive month of higher copper import.
According to the Department of Portfolio Investment of , copper keeps appreciating mainly on positive economic stats from China. Investors are waiting for the USA to publish its GDP report for Q4 2011. Analysts anticipate a 3% increase.
