Copper Prices Poised for New Highs Amid LME Inventory Crunch

The copper market is experiencing a fresh bout of supply tightness in the London Metal Exchange's warehousing network, pushing prices higher. Some traders expect copper prices to surge past $14,500, the record level reached briefly at the end of January.

A two-way pull is depleting LME inventories, raising the risk of another spike in futures contracts. The current supply tightness is severe enough that it might lift prices to new highs.