The copper market is tightening fast, with a surge in shipments to the US and rising orders in China setting the stage for a rally that could take global benchmark prices to all-time highs. Futures in London this week pushed past $14,000 a ton, a ceiling that had only been breached on a handful of days this year, and many traders see prices soon surging past the record $14,500-plus level reached briefly during a bout of speculative buying in China at the end of January. This time around, the upswing has more to do with trade dislocations caused by the gravitational pull of the world’s two largest economies. While an unprecedented hoarding of copper on US shores has sped up in anticipation of a tariff decision, traders have been stepping up shipments to China to alleviate tightness there. bloomberg.com/news/articles/…

The copper market is tightening fast, with a surge in shipments to the US and rising orders in China setting the stage for a rally that could take global benchmark prices to all-time highs. Futures in London this week pushed past $14,000 a ton, a ceiling that had only been breached on a handful of days this year, and many traders see prices soon surging past the record $14,500-plus level reached briefly during a bout of speculative buying in China at the end of January. This time around, the upswing has more to do with trade dislocations caused by the gravitational pull of the world’s two largest economies. While an unprecedented hoarding of copper on US shores has sped up in anticipation of a tariff decision, traders have been stepping up shipments to China to alleviate tightness there. bloomberg.com/news/articles/…

Source:https://x.com/staunovo/status/2085705380781281685