HANOI- Copper prices advanced on Thursday as risk sentiment surged on hopes that US President Joe Biden would introduce more economic stimulus into the world’s biggest economy to remedy damage wrought by the coronavirus pandemic.
Three-month copper on the London Metal Exchange rose 0.4 percent to $8,077.50 a ton while the most-traded March copper contract on the Shanghai Futures Exchange advanced 0.5 percent to 59,410 yuan ($9,195.46) a ton.
US stocks closed at record highs on Wednesday amid expectations that Biden would deploy further economic stimulus to offset damage caused by the COVID-19 pandemic.
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