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Copper rises in price on exchanges after the resumption of the work of the US Congress

Non-ferrous metallurgy / Business and Finance

Copper is a major indicator of investor sentiment, encouraged by the end of the US presidential race.

Copper rises in price on exchanges after the resumption of the work of the US Congress

Copper prices on the London Metal Exchange (LME) are rising in response to the resumption of Congress in the United States and confirmation of Joe Biden's victory in the presidential election.

Confirmation of election results is the last step in summing up the results of the US elections.

The LME copper exchange price for delivery in 3 months rose 0.6% to $ 8,088 a tonne, brokers said. On the Comex in New York, copper rose 0.78% to $ 3.6795 a pound.

After the unprecedented and shocking storming the Capitol Wednesday Congress resumed discussions and confirmed Joe Biden's victory in the November presidential election.

Investors expect that the new administration of President Joe Biden will have a strong position to implement a program that includes strengthening stimulus for the American economy, and this, in particular, will improve the demand for industrial metals.

At the end of the previous session, copper on the LME rose by $ 36 to $ 8,038 per tonne, the highest level since February 2013.

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