empty
 
 

25.09.202612:41:59UTC+00Copper Holds Near Record High

US copper futures hovered near $6.70 per pound, holding close to the record high of $6.80 reached on September 8th, amid acute global supply disruptions and strong demand driven by electrification. Operations at BHP's Escondida mine in Chile—the world's largest copper mine—were suspended indefinitely following a fatal accident, heightening the risk of labor strikes as union members were already engaged in contract talks with the company. The shutdown has intensified supply pressures, coinciding with planned maintenance at several Chinese refineries at the start of the fourth quarter. As a result, the copper prompt spread on the LME widened to its highest level so far this month. At the same time, US manufacturing activity jumped in September, signaling robust demand for the metal. Longer-term support for copper prices is reinforced by surging orders linked to global electrification, including data center build-outs in the United States and energy storage infrastructure expansion in China.

  • 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 $3000 more!
    In September we raffle $3000 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


Can't speak right now?
Ask your question in the chat.
Widget callback