Copper Hits Record Above $11,000 on Bets That Shortage Looms [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Most Read from Bloomberg Wreckage of Iran President's Helicopter Seen, State Media Says Speedier Wall Street Trades Are Putting Global Finance On Edge Even If Alito Is Right, the Upside-Down Flag Was Wrong Gantz Says He'll Quit Unless Netanyahu Moves to New War Plan China-Bound Oil Tanker Hit by Houthi Missile in Red Sea, US Says Futures on the London Metal Exchange jumped as much as 4.1% to $11,104.50 a ton, exceeding the previous record set in March 2022. The global copper world is being roiled by a massive squeeze in the New York market, where prices set an all-time high last week. The short squeeze drove prices on the Comex exchange to an unprecedented premium over the LME and has triggered a rush to reroute metal supplies to the US. Read More: Copper Short Squeeze in New York Is Rocking Metals Markets “The Comex short squeeze is rediverting copper to the US and tightening supplies in other regions,” Gong Ming, an analyst with Jinrui Futures Co., said by phone.
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