Commodities
Copper Soars to Record High Amid Supply Squeeze and Tariff Fears
Copper prices have reached an all-time high of $14,617 per ton on the London Metal Exchange, marking a record for the second consecutive session.
The price hike is largely due to tight near-term supplies and concerns over potential US tariffs on refined copper imports.
A massive shift of refined copper toward the US has drained stockpiles in LME warehouses, triggering a severe supply squeeze last month and contributing to a steep backwardation in futures prices.
China's demand for copper is also expected to increase during its peak manufacturing season, with inventories in Shanghai Futures Exchange warehouses hitting their lowest since 2024.