Copper climbs to record $14,533 as US stockpiling cuts global supply
- Copper hit a record $14,533 per tonne on the London Metal Exchange on September 7, surpassing its previous January high.
- Prices have risen about 17% over the past year, supported by a long-term shortage between global supply and growing demand.
- Demand is being driven by data centres, renewable energy and power grids, while ageing mines struggle to increase output.
- Expectations of possible US tariffs on refined copper imports have pulled large volumes into America, reducing availability elsewhere and lifting prices.
Source: moneycontrol.com
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