Copper Climbs to Record on Concern Demand Will Outstrip Supplies

Bloomberg reports Copper extended a rally to a record on mounting concern that the global economic recovery will boost consumption of the metal used in cars, homes and appliances while mining companies struggle to increase output.

The market news is quoted as saying:

Copper futures for March delivery rose 3.5 cents, or 0.8 percent, to close at $4.5795 a pound at 1:26 p.m. on the Comex in New York. Earlier, the price reached a record $4.614. The metal is up 4.7 percent this week, the biggest weekly gain since Dec.

Click here to access the entire news