Live Updates > Live Update Details
2025-10-29 19:18:18
[Copper Prices Surge to Record High of $11,146 as Supply Crisis Erupts] ⑴ Copper prices hit a record high of $11,146 per tonne on Wednesday, driven by a worsening supply shortage. ⑵ Three-month copper on the London Metal Exchange rose 0.5% to $11,095, having climbed as much as 1% in early trading, surpassing the previous record of $11,104.50 set in May 2024. ⑶ Mining giant Glencore lowered its annual copper production guidance to 850,000-875,000 tons, down from 850,000-890,000 tons previously, exacerbating supply concerns. ⑷ Anglo American also reported a decline in copper production for the first nine months of 2025 on Tuesday, further escalating market supply tensions. ⑸ Analysts pointed out that cumulative production cuts could push the copper market into a supply deficit state in 2025. ⑹ Aluminum prices rose 0.5% to $2,902, reaching a high of $2,917, the highest level since May 2022. (7) Zinc prices rose 1% to $3,087, a new high since December last year, with the spot price trading at a premium of $170 over the three-month contract. (8) LME zinc inventories were only 35,200 tonnes, close to the lowest level since March 2023, highlighting the tight short-term metal supply.
