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Copper surges to fresh record as inventories ‘locked in the US’
Copper extended a powerful rally after bursting through $13 000 a ton for the first time, as traders and investors bet on a tighter global market. Three-month futures surged as much as 2% to a record above $13 253 a ton in London on Tuesday, surpassing the peak set on Monday. Concerns that the Trump administration may introduce a tariff on refined metal have drawn holdings into the US, potentially leaving the rest of the world short. “Inventories used to act as a buffer, but now they’re locked in the US,” Li Xuezhi, head of research at Chaos Ternary Futures Co., said by phone. “So the buffer is gone and ... (full story)
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- Jan 6, 2026 3:47am Posted byFundamental Analysis255
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