Copper surged to a fresh four-month peak on Thursday, as strong technical momentum and the prospect of additional stimulus measures from the United States kept the industrial metal's 2012 risk-on rally intact. In New York, the benchmark March COMEX contract jumped 7.20 cents or nearly 2 percent to settle at $3.9015 per lb, after moving from $3.8305 to its own four-month top at $3.9105.
Charles Nedoss, senior account manager and metals analyst with Olympus Futures in Chicago, believed there was room for further gains.