Copper's Run Continues With Surge to Highest Since June 2022 [BNN Bloomberg (Canada)]
HONG KONG EX&CL UNSP/ADR (HKXCY)
NASDAQ:AMEX Investor Relations:
hkexgroup.com/investor-relations?sc_lang=en
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Source: BNN Bloomberg
Copper has found itself strongly positioned after a mine-supply shock late last year that is now combining with stronger-than-expected demand as global manufacturing demand picks up. Futures on the London Metal Exchange have risen more than 12% so far this year and are trading at the highest level since June 2022. Copper rose as much as 2.5% to $9,578 a ton by 9:23 a.m. in London. Investors have been focusing on signs of a recovering industrial sector in China and expectations for global interest rates to drop, while disruptions at major mines have pressured margins at the the Chinese plants that account for more than half the world's supply, raising the prospect they will reduce output of refined metal. Production concerns were first fueled by Panama's order late last year to shut a giant First Quantum Minerals Ltd. mine, removing roughly 400,000 tons of the metal from the world's annual supply. The outlook for supply tightened further after Anglo American Plc announced it was
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