Copper Resumes Gains Back Toward Record on Tight Supply Outlook [Yahoo! Finance Canada]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance Canada
Prices rose as much as 1.6% to $11,666 a ton on the London Metal Exchange, rebounding from a decline in the previous session, when prices pulled back from an all-time high set on Monday. Most Read from Bloomberg Copper — a metal critical for electrification and the energy transition — has gained more than 30% on the LME this year. A series of mine outages have tightened supply, and there are growing expectations that a surge in US imports in anticipation of potential tariffs will fuel shortages moving into next year. Copper's rally has come despite a recent slowdown in Chinese demand, and there were fresh signs of stress in the country's manufacturing sector on Wednesday as data showed producer prices fell for a 38th straight month. Still, many investors are bullish on copper's long-term prospects as usage accelerates in renewables, electric vehicles and data centers. “We believe a period of higher prices is needed to spur investment in new copper production, and the mining i
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