LME copper races to all-time peak above $11,200 a ton
PositiveFinancial Markets
- LME copper prices surged to an all-time high, exceeding $11,200 per ton, reflecting a strong demand in the market. This peak follows a period of heightened trading activity and volatility, particularly influenced by recent events at the CME Group's Chicago Mercantile Exchange.
- The record price is significant for investors and stakeholders in the copper market, as it indicates robust demand and potential supply constraints. Optimism from industry leaders, such as Kostas Bintas of Mercuria Energy Group, suggests that a surge in shipments to the US could further impact global inventories.
- However, concerns about a looming copper crunch persist, as miners are reportedly not investing in new supply despite increasing demand driven by the electrification of the economy. This juxtaposition of rising prices and potential supply shortages highlights a critical moment for the copper market, with implications for future pricing and availability.
— via World Pulse Now AI Editorial System
