Demand revival likely to push copper futures past $8,000

SINGAPORE - Copper futures in London may advance to more than $8,000 a metric ton this week for the first time since the collapse of Lehman Brothers Holdings Inc in 2008, buoyed by a revival in demand that's more than doubled prices.

The metal for three-month delivery on the London Metal Exchange touched $7,939.75 a ton on April 1, the highest level since Aug 1, 2008, when it last traded at more than $8,000. LME trading resumes on Tuesday after the Easter holiday.

Copper's revival underscores the rebound of the global economy, which was tipped into the deepest recession since World War II by Lehman's collapse and the freezing of credit markets. The commodity, used in houses and autos, can set the pace for other industrial metals such as nickel and zinc.