A 4.6% surge in the copper price on Monday morning is likely to help the JSE’s miners continue Friday’s rally. Copper for three months delivery rose to $6,090/tonne on the London Metals Exchange, a level last reached in June 2015. Two supply concerns caused the metal’s price jump: a strike at BHP Billiton’s Escondida mine in Chile and the Indonesian government banning exports. Zinc rose 3.3% and tin 2.2% as other industrial metals joined the rally. In Sydney, BHP was 2.41% higher at A$26.50 ahead of the JSE’s opening on Monday morning. On Friday, BHP closed 2.81% higher at R229.78 on the JSE, lagging behind Anglo American, which rose 4.36% to R225.41, and Glencore, which rose 3.89% to R53.71. Miners were among the main beneficiaries of a global stock rally on Friday spurred by US President Donald Trump’s promise of "phenomenal" tax cuts for business. The index of the JSE’s 10 largest resources miners gained 1.8% on Friday, helping the all share index gain 1.5%. Trump’s promised tax ...
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