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06.01.202605:08:31UTC+00Copper Hits Fresh All-Time High

Copper futures surged past $6 per pound on Tuesday, reaching unprecedented levels, driven by forecasts of further global supply constraints this year. Market participants are increasingly wary of potential new tariffs on refined metals by the Trump administration, which could redirect shipments towards the US, consequently depleting supplies in key trading centers like London and Shanghai. Additionally, prices are buoyed by strong global demand prospects, notably from upgrades to power grids, renewable energy initiatives, and the expansion of data centers. Moreover, the anticipation of additional interest rate cuts by the US Federal Reserve this year has bolstered a risk-on sentiment across financial markets. In China, the world's largest copper consumer, sustained policy support and abundant liquidity are supporting longer-term increases in copper prices.

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