Copper Hits 14-Month High With Demand Rising and Supply Squeezed

Copper Hits 14-Month High With Demand Rising and Supply Squeezed

From bnnbloomberg.ca

Copper jumped to the highest since January 2023 as fast-mounting supply risks and fresh signs of a rebound in demand reinforced hopes that the bellwether industrial metal is plotting a course to new record levels. Prices rose as much as 3.2% in London, getting an initial boost after unexpectedly strong US jobs data showed the ongoing strength of the US economy. The rally accelerated after a report showing a slowdown in the US services sector reinforced hopes that the Federal Reserve will soon pivot to looser monetary policy. Fed Chair Jerome Powell said Wednesday the central bank will let incoming data guide its ... (full story)

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