Supply fears push up copper prices

SHANGHAI: Copper rose to new multi-month highs yesterday, as the bullish market sentiment was reinforced by upbeat new factory orders data in the US, and also aided by concerns over harsh cold weather in parts of China.

Shanghai copper has now risen for 10 consecutive days, matching record runs of rises in December 2005 and April 1994.

The third-month Shanghai aluminum futures contract rose by its daily 5 percent limit from the previous session's settlement to 18,045 yuan a ton, as investors worried the harsh winter weather could disrupt supplies.