LME copper hits record highs as funds and fundamentals align

**Summary:**Copper prices soared to an all-time high of $11,200 per metric ton on October 30th, driven by a mix of global economic factors and industry-specific supply issues. Investment funds, encouraged by a recent trade truce between the US and China, have resumed betting on copper's price increase, contributing to the surge. However, concerns about a potential copper shortage due to mine accidents and reduced exports from China also play a significant role. Lower inventories and tight supplies make it risky for traders to bet against copper, while ongoing tariffs and trade issues continue to impact the market. Despite positive news, the volatile nature of global trade could still cause prices to fluctuate.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.