LME Copper Stocks Surge 50%, Easing Market Fears
Copper prices have eased due to a surge in London Metal Exchange (LME) inventories. Between Monday and Wednesday, on-warrant copper stocks rose by 63,000 tonnes, a 50% increase over just three days.
This significant jump has narrowed the key market spread, easing fears of an acute supply squeeze. The LME's inventory surge is likely to put downward pressure on copper prices in the near term.