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Copper price tops $10,000 as energy crisis hits supply
Copper price continued to rally on Thursday amid a global energy crisis that’s knocking supply offline and heaping pressure on fabricators scrambling for metal. Copper for delivery in December rose sharply for a second day in a row on the Comex market in New York, touching $4.6365 per pound ($10,200 per tonne), the highest since the start of June. Copper climbed as much as 3.6% to $9,994 a tonne in London. The cash-to-three-month spread was trading at the biggest gap since 2012, as global exchange inventories plummet. Five out of the six base-metal contracts on the LME are now in backwardation (prompt delivery ... (full story)