Copper Prices Soar to Six-Month High Amid LME Inventory Concerns

Copper prices have reached a six-month high due to concerns over availability on the London Metal Exchange, where inventories are at their lowest since February.

According to Reuters, benchmark copper was up 0.9% at $14,290 a metric ton as of 0923 GMT from an earlier high at $13,396.

Prices of the metal used in power and construction industries hit an all-time high at $14,527.5 in January.

Stocks in LME-approved warehouses have halved since May to less than 210,000 tons as traders moved copper to the United States ahead of potential tariffs on imports of refined metal.