London Copper Prices Approach Record High Copper prices in London have climbed for a fourth consecutive session, bringing benchmark prices close to a record high. The rally has been driven by concerns over potential US tariffs and improved investor sentiment following signs of progress toward a deal involving the Strait of Hormuz. A significant buildup of copper inventories in the United States has tightened supplies in London and China as stockpiles outside the US continue to decline. This has pushed the London Metal Exchange's cash-to-three-month spread into a steep backwardation of $130 per ton, signaling strong demand for immediate copper supplies.

London Copper Prices Approach Record High Copper prices in London have climbed for a fourth consecutive session, bringing benchmark prices close to a record high. The rally has been driven by concerns over potential US tariffs and improved investor sentiment following signs of progress toward a deal involving the Strait of Hormuz. A significant buildup of copper inventories in the United States has tightened supplies in London and China as stockpiles outside the US continue to decline. This has pushed the London Metal Exchange's cash-to-three-month spread into a steep backwardation of $130 per ton, signaling strong demand for immediate copper supplies.

Source:https://x.com/FirstSquawk/status/2085302099479584961