International Cu Price Recovers US$ 4,000/t

International copper ingot cash price recovered US$ 4,000 per tonne for the first time in 4 months. The price increased by 45% from the recent bottom in December 2008, when the price hit around 4 years low after financial crisis. Japanese market interests expect the price could increase more when Chinese demand increases under major infrastructure investment and stock price increases in developed countries.

Indicative price of settlement hit US$ 4,006.50 per tonne at London Metal Exchange on Monday, which increased by US$ 95.50 from Friday. The price renewed year-high of price on March 19. The price hit US$ 4,000 for the first time since November 10, 2008.

Copper cash price hit 183.20 US cents per pound at New York Mercantile Exchange on Monday, which increased by 4.45 US cents from Friday.

LME copper price hit recent bottom of US$ 2,770 per tonne on December 24, 2008 when the market concerned recession after financial crisis. The price increased to more than US$ 3,000 and dropped to near US$ 3,000 on January 23. However, the price recently increased when China starts 4 trillion yuan of stimulus package.