Metals: Copper Prices Rise for 15th Consecutive Session

Beckett Bronze manufactures bronze bearings, bronze bushings, and bronze bars. Custom made cast bronze bearings, bushings, and bars are made from over 50 alloys in our own foundry.

Copper prices rose for the 15th consecutive session Wednesday, marking the industrial metal’s longest winning streak ever, according to FactSet data dating back to 1984.

Copper for December delivery closed up less than 0.1% at $3.2570 a pound on the Comex division of the New York Mercantile Exchange.

Robust demand from China has propelled copper to its highest level since July 2014, with prices up 30% for the year. Recent reports that China’s largest producer, Jiangxi Copper Co. 600362 6.62% , has been ordered to halt output for a week to curb pollution have fueled recent gains, analysts said.

“We’ve had some mining strikes attracting some attention in South America but this rally between Christmas and New Year has been driven by China,” said Ole Hansen, head of commodity strategy at Denmark’s Saxo Bank. “It’s the uncertainty about the supply side and how long these restrictions will be in place.”

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