Copper Futures Soar on Tightening China Supplies

Copper futures rose sharply on Tuesday, pushing towards a new record high as signs of tightening supplies in China's physical market came to light. The United States Copper Index Fund ETF (CPER) saw an increase in its value.

The Chinese market is facing a shortage of copper, with inventories falling and pre-holiday buying contributing to the trend. According to Bloomberg, some imported copper has arrived in China, but much of it has gone directly to fabricators rather than being released onto the market.