Copper price growth in November may be the highest in 4 years

Copper is rising in price this morning - at 9:44 a.m., the futures for March added 1.81%, reaching the level of $3.47. The rise in prices for this metal in November may become the strongest in the last four years. Statistics from China, which is the world's leading copper importer, contribute to the positive dynamics. In November, the PMI index, which reflects the level of business activity in the industrial sector. It exceeded the expectations of analysts, having reached 52.1 points. The forecasted value was 51.5. Non-productive PMI also surpassed the forecast of 56.4 vs. 56. A 50 p. PMI above the forecasted level is an indication that business activity is growing. Copper finished last week with 1.31% growth on the London Metal Exchange. Recently, the players have been quite optimistic, which was facilitated by the news of successful tests coronavirus vaccines. In connection with this news, they hope for a speedy recovery of the world economy.