Copper prices risen following closure of Suez Canal

The closure of the Suez Canal, one of the most important routes for global trade, is having an impact on various sectors of international industrial trade. As a result, the price of crude oil rose by 6 percent in just 24 hours. The closure of the Suez Canal has affected gas, coal and other commodities as well as the international copper market. As a result, copper prices have risen in Europe since last Friday. The situation is still unchanged.

On the other hand, coronavirus infection has led to the announcement of new lockdowns and the slow pace of vaccination activities, which has led to a rise in copper prices in the region. They also think that if the situation does not improve, the possibility of a sudden reduction in prices is less. News Reuters.

The market value of the latest precious metal rose 2.10 percent to 8,962 dollars per tons on the London Metal Exchange.

Sunbd/NJ