finance
LME Copper Rises 0.4% to $13,541 per Metric Ton as Supply Tightness Offsets Energy-Cost Concerns
London Metal Exchange copper prices increased 0.4 percent to $13,541 per metric ton. Tight physical supplies in China offset concerns over renewed U.S.-Iran tensions through stockpiling and higher premiums.
Jul 13, 5:25 PM·1m read1 source
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LME copper gained 0.4% to $13,541 per metric ton, @FirstSquawk reported. -Iran tensions. Stockpiling, rising physical premiums and a surge in cancelled warrants supported the move. Analysts said near-term supply constraints and trade-related disruptions continue to support copper prices.
Higher energy costs pose risks to industrial metals demand, the same analysts noted. The price advance occurred amid physical market activity that included increased cancelled warrants on the exchange.
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