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An Eye-Watering Squeeze in Copper Ore Is Firing Up the Bulls
An unprecedented squeeze in the market for copper ore has fired up bullish investors and helped drive prices to the highest in nearly two years. The market for semi-processed copper ore, known as concentrates, has never been as tight as now, according to several veteran traders with decades of experience. Across the market, traders and smelters are paying roughly the same price for copper ore as the copper contained in it would fetch once processed — a highly unusual situation that points to a shortage of immediately available supplies. “Copper has been coiled up like a spring,” said Craig Lang, principal ... (full story)