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Market Spotlight

China and green energy drive copper prices to record high

Shares in Asian miners and nonferrous producers surge despite supply concerns

RURIKA IMAHASHI and JADA NAGUMO, Nikkei staff writers | China

TOKYO -- Analysts are predicting "Dr. Copper" will go on a sustained rally as the China-led global economy shows signs of climbing out of the coronavirus slump, though some long-term investors are adamant about staying away.

The benchmark copper price on the London Metal Exchange in early May hit a record high, at $10,460 a ton, and has since remained above $10,000. Its price had not been near that threshold for a decade; to reach it, it almost doubled in a year.

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