Copper Forecast: Records Expected on Possible Supply Shortage

Copper Forecast: Records Expected on Possible Supply Shortage

Copper rallied on expectation demand will outstrip supply, while lead gained to near the highest price in almost three years on speculation rebuilding from the Japanese earthquake disaster will spur consumption.

Three-month copper on the London Metal Exchange rose as much as 1 percent to $9,424 a metric ton and was at $9,409 at 2:45 p.m. Tokyo time. The metal for May delivery in New York gained 0.6 percent to $4.28 a pound. Markets in China are closed today for a public holiday.

Source: Copper Forecast: Records Expected on Possible Supply Shortage