Copper's Longest Rally Since 1994 Meets Tightening Physical Supply
Source Summary
Copper achieved its longest weekly winning streak since 1994, with London Metal Exchange benchmark prices reaching near $14,300 per ton and Comex prices topping $6.70 per pound in August, approaching record highs. The rally is underpinned by shrinking physical inventory, with LME warehouse stocks declining for 42 consecutive days through mid-August, marking the longest depletion period since 2014.
Why it matters
Tightening physical copper supplies amid record-high prices signal potential constraints on availability for industrial users and manufacturers dependent on the metal.
