Copper’s price is depreciating for the past years while Euro starts to strengthen compared to US dollar, thus, many industries that use copper in their products see it as an advantage.

The conditions of the copper and Euro are certainly favourable to several businesses as they could acquire higher profit. It is a very unusual occurrence where copper price is low and the value of Euro is high, thus, magnates purchase copper in bulk, having enough reserves up until the following years.

A lot of companies use copper for wiring, roofing, plumbing fixtures and so on.

“It’s just too attractive to pass up,” one European trader at a large manufacturing company said.

Euro’s value has been increasing for the past few days compared to US dollar — the currency used for metal and mineral trading.

Societe Generale analyst Robin Bhar said: “For European consumers, they have a double whammy in their favour. This is the first time copper has been at these lows at the same time the euro is at its highs.”

“Some of the car manufacturers are buying, because it is so attractive in euro terms,” he added.