Copper extended its historic four-day rally to $10,000 per tonne on Thursday, helping boost tin to a new record in the process, as curtailed supply growth at a time of healthier demand continued to power prices higher. With its extensive usage in the construction and power industries, copper prices have rallied more than 60 percent since June as a generally positive stream of macro data reflected a growing confidence in the global economy and bolstered demand prospects in 2011.
COMEX copper for March delivery peaked at a record $4.58 per lb, before settling up 0.05 cent at $4.5445.