Copper hit highest in a decade, analysts say near-term copper demand from China may weaken

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Copper extended gains to a decade-high on Tuesday as global growth underpinned a rally in metals markets ranging from aluminum to iron ore.

Copper on the London Metals Exchange closed at $9878.5 per tonne after hitting $9965 per tonne at one point, the highest level since March 2011 and surging 27 per cent from the start of the year. London touched $10,190 per tonne in February 2011.

On the same day, the most actively traded copper futures contract on the Shanghai Futures Exchange, for June delivery, closed 72,500 yuan per tonne . . .

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