Copper prices advanced to their highest level in two months, closing within striking distance of the $14,000-a-ton threshold on the London Metal Exchange.
The rally was fueled by tightening physical supply conditions in the United States, where ballooning import volumes have strained available stockpiles.
The move marks a significant acceleration from recent sessions, where copper had been consolidating near $13,600–$13,750 a ton following modest weekly gains.
Traders are closely monitoring the situation ahead of a pending decision on import tariffs by President Donald Trump, which could further disrupt supply chains and amplify price volatility.
The benchmark three-month contract rose 0.5% to $13,938 a ton during Asian trading hours, extending a broader uptrend across base metals.
All six of the LME’s primary metals recorded gains, reflecting renewed buying interest in industrial commodities.
The move marks a significant acceleration from recent sessions, where copper had been consolidating near $13,600–$13,750 a ton following modest weekly gains.