Copper extended gains for a fifth day, after Goldman Sachs Group Inc. said it expected prices to rise to a 2025 peak of around US $10,050 a tonne in August, as supplies outside the US tighten. Traders of copper are experiencing a major squeeze on the London Metal Exchange (LME), after premiums for spot contracts spiked. The supply tightness is being driven by record shipments to the US, after proposals for tariffs fuelled a surge in prices there, draining other inventories. “The ex-US copper market has tightened, causing fears of a regional copper shortage, despite the global market currently being in surplus,” ... (full story)