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Copper forges record 7,000 dollars per tonne

LONDON, Apr.25 (AFP) - The price of copper leapt to the highest-ever level here on Tuesday, spurred by massive investment and speculative demand.
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Three-month copper prices on the London Metal Exchange touched 7,040.00 dollars per tonne -- the highest point since copper was first listed in its current format in 1870.
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The price of copper, used for electrical wiring and plumbing, has leapt by a collossal 55.0 percent since the start of 2006.
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That compared with a gain of 50.0 percent during the whole of 2005.
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Keen demand from economic powerhouse China has underscored strong gains across much of the metals complex so far this year.
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Metals such as copper have also been supported by weak global stockpiles and limited production.
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With a rosy outlook for future price gains, speculators have ploughed into the market in search of potential profits, according to analysts.
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