Copper climbs to all-time high of US$10,232 in London

London copper prices hit a record high on Friday, boosted by tight supply outlook and hopes for strong demand in the new energy sectors, as major economies recover from the  pandemic, Reuters reports.

Three-month copper on the London Metal Exchange increased by 1.4 perent to hit an all-time high of US$10,232 a ton at 0202 GMT. The contract has risen by more than 30 percent since the beginning of the year.

The most-traded June copper contract on the Shanghai Futures Exchange climbed by 2.3 percent to 74,630 yuan (US$11,552.99) a ton, its highest since May 2006 and also close to its record level of 76,160 yuan.