Congo Export Ban Drives Copper Prices to Six-Month High

Copper prices have surged to their highest level in six months, driven by concerns over tightening stocks and reduced supply from major producer, the Democratic Republic of Congo.

The benchmark three-month copper price on the London Metal Exchange rose by 1.2% to $14,275.50 a metric ton, with the metal hitting $14,369.5 earlier in the day - its highest since January 29 when it reached $14,527.5.

The recent ban on exports of copper concentrate and cobalt concentrate from Congo has heightened worries about supply, as the government tries to force domestic processing and retain more value from its mineral resources.