empty
 
 

06.08.202603:57:22UTC+00Copper Prices Supported by Supply Concerns

Copper futures traded above $6.60 per pound on Thursday, hovering near record highs as shrinking global inventories and ongoing supply risks in top producer Chile continued to underpin prices. Production at the Andes Norte section of Codelco’s flagship El Teniente mine could remain halted for up to two years, further tightening supply in the global copper market.

More broadly, mining companies are pushing operations deeper underground as mature ore bodies are depleted, increasing exposure to geotechnical challenges similar to those affecting El Teniente. At the same time, analysts warned of a rising risk of a short-term squeeze on the London Metal Exchange, driven by limited on-warrant inventories, declining visible stockpiles in China, and strong US demand ahead of a potential tariff announcement.

Recent data showed that over 200,000 tons of copper arrived at US ports in July, the largest monthly inflow in more than a decade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


现在无法通话?
提出您的问题,用 在线帮助.
Widget callback