Copper trades above $14,000/t due to supply-side risks
Copper is trading above $14,000/t, close to its all-time high of $14,527.50, due to supply-side risks and tight refined markets.
The metal’s price is being driven by low inventories outside the US and ongoing disruptions in key producing regions.
Tight fundamentals and speculative support are underpinning prices, despite macro uncertainty and high oil prices weighing on consumption.