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Copper Hits 4-Month Highs
Copper prices are back in the spotlight this week as the red metal continues to push higher. The futures market is now trading at 4-month highs as dovish Fed expectations and tighter supply conditions help bolster sentiment. Copper on the LME hit record highs on Friday as a result of fresh fears over tighter supply. News of lower output from Chile (largest global producer) alongside news of planned cuts by Chinese smelters has fuelled a jump in prices. Indeed, Chinese refiners have been diverting shipments to US to capitalise on higher COMEX prices, putting further strain on Chinese supply. Given that China is the ... (full story)
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