Copper Touches Record High, Focus on Tight Supplies Outside US
23 Articles
23 Articles
Cash copper advanced 1.18% to $6,595 at the London Metal Exchange.
Copper touches record high, focus on tight supplies outside US
Copper prices hit a record high as concerns over shortages outside the US boosted buying, while a weaker dollar supported metals. LME copper touched $14,533 a metric ton, surpassing its January peak. Falling Shanghai stocks and strong US inventories highlighted the growing divergence in global copper supplies.
Driven by the possible introduction of new tariffs in the United States and by fears of insufficient production, the price of copper reached new highs on Monday on the London Metal Exchange.
Zero Hedge
The Copper Chart Causing Alarm
The Copper Chart Causing Alarm Copper futures in London continue to move higher, once again approaching record highs, as US buyers purchase record volumes from the seaborne market, with imports reaching 200,000 tons in July. A phased US tariff would keep that buying in motion for longer, further tightening the ex-US market and limiting any near-term price correction in London trading. Rafael Barcellos, head of Latin American Metals & Mining and …
Copper prices hit a new record high due to concerns about a possible increase in US tariffs and supply shortages.
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