FRANKFURT (dpa-AFX Broker) – Aurubis shares surged on Monday, responding to the continued rise in copper prices. With a recent increase of 2.7 percent to 121.90 euros, the copper producer's stock ranks among the top performers in the MDax index.

Shortly before, the shares had climbed as high as 123.30 euros, coming very close to their record high of 123.50 euros set in early December. So far this year, the stock has posted a gain of nearly 60 percent.

Copper prices have accelerated their upward trend, which began in the spring, in recent weeks. "The AI boom is keeping demand for chips—and therefore for copper—high," explained market analyst Jochen Stanzl from Consorsbank.

In addition, copper demand is rising in the fields of electrification, renewable energy, and defense. While there is still enough copper worldwide, the lack of new mines is becoming an issue, Stanzl added./edh/zb

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