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Copper inches up to trade near record highs on supply constraints
Copper prices ticked up on Tuesday, hovering near record levels hit in the previous session after Chilean miner Antofagasta and a Chinese smelter agreed on a zero processing fee for 2026 copper concentrate, underscoring supply constraints. The most active copper contract on Shanghai Futures Exchange was up 0.1% at 93,810 yuan ($13,325.28) per metric ton as of 0332 GMT. The benchmark three-month copper on the London Futures Exchange was steady at $11,926.0 a ton. China’s top copper smelters will cut production by over 10% in 2026, to counter overcapacity in the industry that has led to increasingly distorted copper ... (full story)
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