Copper futures are up 10% this month and are on track for the biggest January rise since 2003 after hitting a 14-month low in October, according to the report.
“It’s a play on a possible demand recovery,” Spencer Patton, chief investment officer for Steel Vine Investments, told Bloomberg. “People are now accepting gradually that the Europe situation is not that terrible, and China will probably have a soft landing. And the icing on the cake is the growth in the U.S.”
iPath Dow Jones UBS Copper Subindex Total Return ETN
