Copper Spikes to Almost $13,000 as the LME Resumes Business
On Monday, the price of copper experienced a major spike on the London Metal Exchange as the LME resumed business after the Boxing Day holiday on Friday. This spike on the LME was expected given the rally that had happened in the U.S. on the Comex marketplace as last week ended. Benchmark prices on the LME jumped to $12,960 per ton before easing back slightly as a result of subdued trading on the day due to the ongoing holiday season-induced lull in activity. This sharp upward move in the price of copper is likely to be a concern to the…