Copper Prices Hit Third Straight Record as Indonesian Nickel Mine Resumes Operations
Copper prices have reached an intraday high of $14,858.5/t and closed at $14,767.5/t, marking a third straight record.
The squeeze on nearby metal has eased while prices continue to make new highs.
Premiums on copper for immediate delivery are now $45/t lower than for deliveries a month from now, down from a $150/t premium weeks ago.
In related news, PT Weda Bay Nickel in Indonesia has resumed mining after receiving government approval to restart operations.