Copper Prices Going Up
Bank of America (NYSE:BAC) says copper prices should continue to rise in the second quarter, even in light of the metal reaching a 19-month high on Tuesday.
Price rose as high as $3.57 a pound before finishing the session at $3.56 a pound, a gain of 3 cents.
Bank of America said their reasoning behind their projection is the rising demand in China, and to a lesser extent the United States, while copper production remains down some.
Most of the recent gains have come from primarily China copper demand continuing to grow.
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