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10.09.202603:49:34UTC+00Copper Holds Near Record Highs

Copper futures hovered around $6.76 per pound on Thursday, near record highs, as persistent supply concerns and uncertainty over potential tariffs continued to underpin prices. Markets were awaiting the Trump administration’s decision on whether to impose new tariffs on refined copper imports, while the ongoing premium for copper futures on New York’s Comex kept arbitrage opportunities open. In response, traders have been redirecting shipments to US warehouses, driving a sharp decline in inventories at facilities monitored by the London Metal Exchange and the Shanghai Futures Exchange. At the same time, major copper producers in South America have faced operational disruptions this year, curbing output and exports. Overall, supply has struggled to keep up with growing demand from data centers, renewable energy projects, and power grid expansion.

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