Copper price on the copper market today hit a record high, with the price of the metal up nearly 40% over the last 12 months.
Copper prices are up nearly 50% in the last 24 hours alone.
The copper price is now trading at $US10.50 per pound, a new all-time high.
Coal is also up over 60% year-on-year, thanks to the ongoing global demand for coal.
This has been exacerbated by the global economic downturn, but the market continues to rally.
Coppers price is up about 20% since July, when the global financial crisis began.
Coins are currently trading around $US8.00 per ounce, which is a record low for the market.
Coatings are also rising, with copper prices rising over 40% in a month, thanks in part to the recent announcement by Chinese state-owned bank CITIC that it is adding an additional 10 million ounces of copper to its copper-based coating products.
The copper market is expected to continue to rise for the foreseeable future, but it is not expected to reach the $US100-million-per-barrel price point seen in June 2017.
Coats are also up almost 30% year on year.
This is partly due to the fact that copper prices are expected to be higher in the future.
However, copper prices have been volatile recently, with price movements ranging from around $1.20 to $1,700 per pound.
The average price per ounce of copper has been about $US0.75 since the start of 2018.
The price of copper is set to rise further over the next few months, with some analysts predicting copper prices could hit $US110 per ounce by the end of 2018, a 50% increase over current levels.