Copper price sets fresh US record as tariff-driven hoarding meets shrinking supply

from Mining.com

Copper climbed to a fresh all-time high in New York on Wednesday, as bets on US import tariffs kept pulling metal into the country while the supply picture outside the United States continued to deteriorate.

Copper for September delivery touched $6.7045 per pound ($14,781 per tonne) on the Comex, surpassing the previous intraday peak of $6.69 set in mid-May. The most-active contract was trading at $6.6825 in late morning, up 0.6% compared to Tuesday’s settlement, bringing gains in New York this year to about 17%.