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Copper price extends record run as Citi makes bullish call
Copper extended its record-breaking run on Friday, as Citigroup became the latest to provide a bullish outlook on prices behind the narrative of an impending global supply shortage. Futures on the London Metal Exchange rose as much as 2.2% to $11,705 a ton, surpassing the previous record high set earlier this week. The industrial metal has been ratcheting up in recent weeks as traders anticipate a supply squeeze caused by stockpiling in the US ahead of potential tariffs. The rally received a further boost Friday when Citigroup backed this supply-side narrative, predicting that the global copper deficit created by US ... (full story)
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