Copper Near Record Highs on Supply Tightness, Tariff Risks – ING
ING notes LME copper is trading near record highs, supported by supply tightness, US tariff-driven stockpiling, and AI-related power demand. The COMEX-LME spread remains elevated as the market prices in tariff risk.
COPPER
According to ING's Commodities Strategist Ewa Manthey, LME copper is trading close to record highs. The metal is being supported by tight supply conditions, stockpiling driven by US tariff concerns, and rising power demand from AI-related infrastructure.
The market has already begun pricing in US tariff risk, keeping the COMEX-LME spread elevated. No specific price levels were cited.
Source: FXStreet Forex News