Copper on Wednesday rose to its highest price in more than two years - during the trades quotations on LME reached $9302.00 per ton. During the trading session, prices jumped by 3.46%, which is atypical for this metal. The driver of growth was the statistics on employment in the United States, which exceeded expectations - the results strengthened the optimism of players regarding the prospects of the country's economy, writes Profinance.ru.

Over this year, the cost of copper rose by 8.2%, which contributed to fears about the reduction in supply. Last year, the largest mine in Panama closed, which caused a decline in production and ore supplies. This may lead to a reduction in copper production in China, which accounts for more than 50% of the global volume, the portal notes.

Analysts expect copper prices to rise further. According to the forecast of Goldman Sachs, by early next year they will rise to a record $ 12 thousand, and Citigroup believes that this level will be reached by 2026.