Copper on pace for best year since 2009 as AI demand, supply fears fuel record price rally
From beemarkets.com
Copper is on track for its biggest annual price rise in more than a decade, driven by supply disruptions, a weakening U.S. dollar, improving expectations for Chinese economic growth — and blockbuster spending on artificial intelligence. Analysts say the red metal's rally could continue next year, particularly amid supply fears and a rapidly expanding global data center footprint. Three-month copper prices on the London Metal Exchange (LME) traded up 1.5% at $12,405 per metric ton on Tuesday, paring recent gains after notching a record high of $12,960 in the previous session. The benchmark contract, which is up around ...
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