Copper hits 14-month high with demand rising

Production glitch: A Chilean miner places explosives inside the Kiara copper mine south of Antofagasta. The commodity has risen 8.2% this year, driven largely by concerns about risks to supply. — AFP

LONDON: Copper jumped to the highest since January 2023 as fast-mounting supply risks and fresh signs of a rebound in demand reinforced hopes that the bellwether industrial metal is plotting a course to new record levels.

Prices rose as much as 3.2% in London, getting an initial boost after unexpectedly strong US jobs data showed the ongoing strength of the US economy.