SCCO - Copper hits nine-year high helped by infrastructure green energy plans

Copper futures wrap up a third consecutive weekly gain to score their highest finish in more than nine years, sparked in part by raised expectations for copper demand from the Biden administration's infrastructure and renewable energy spending plans.May Comex copper (HG1:COM) closed +1.5% to $4.336/lb., the highest settlement since August 2011 and capping a 4% rise for the week.ETFs: [[COPX]], [[CPER]], [[JJCTF]], [[JJC]]Shares of industrial metals miners are on the move: [[FCX]] +5.6%, [[TECK]] +1.8%, [[HBM]] +1.5%, [[SCCO]] +3.2%, [[AA]] +4%, [[ARNC]] +2.1%, [[CSTM]] +4.8%, [[RIO]] +2.8%, [[BHP]] +2.8%.Steel companies also sport strong gains: [[X]] +6.2%, [[CLF]] +4.2%, [[MT]] +4%, [[NUE]] +1.7%, [[STLD]] +3%."Technology, semiconductors, data centers and cellular towers all require significant copper usage," Rob Haworth, senior investment strategist at U.S. Bank Wealth Management, tells MarketWatch, and "we have not seen an investment in new copper supply over the past few years, which means users have been competing for

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Copper hits nine-year high, helped by infrastructure, green energy plans