Live Updates > Live Update Details
2025-10-24 18:30:06
Copper Prices Approach Yearly Highs, Supply Crisis Drives Three Consecutive Weekly Gains] ⑴ London copper futures hit a high of $10,969 on Friday, approaching the 16-month peak of $11,000 reached on October 9th, before closing up 0.3% at $10,886.5. ⑵ Copper prices rose 2.6% this week, driven primarily by optimism about trade negotiations and concerns about ongoing supply shortages. ⑶ Indonesia's Grasberg mine has remained shut down since the September 8th accident, causing LME-registered inventories to fall to 136,350 tons, a low since late July. ⑷ Analysts warn that the copper market could repeat this week's zinc squeeze, with smelters facing the risk of spot shortages in the London-Shanghai arbitrage. ⑸ Aluminum prices briefly hit $2,883.5, a high since May 2022, as supply concerns lingered. ⑹ Other base metals showed mixed performance, with zinc and nickel seeing a slight pullback, while lead and tin maintained their upward trend. The decline in gold prices prompted a return of funds to industrial metals.
