Copper Prices Soar To 10-Year Highs

In early trade on Wednesday, the copper price for delivery in March was up 1.53% with copper futures exchanging hands for $4.23 per pound ($9,306 a tonne).The price of the red metal hit a nearly 10-year high this week as analysts expect that surging demand from the power and construction industries will overwhelm supply.The price spike has prompted top financiers from JP Morgan to Goldman Sachs to predict a commodities “supercycle” similar to that of the early 2000s when demand boomed in emerging nations. “I wouldn’t…