{
  "id": 1474522,
  "title": "Copper: Record highs on tightening supply – ING",
  "url": "https://urgent.news/2026/08/17/copper-record-highs-on-tightening-supply-ing",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T11:13:50.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/copper-record-highs-on-tightening-supply-ing-202608171113"
  },
  "original_language": "en",
  "account": "ING reports that LME copper has reached a record high above $14,000 per tonne, underscoring acute supply tightness in the market. A backwardation of $518.5 per tonne on the cash/3M spread highlights the near-term shortage of copper. LME inventories have hit their lowest level in 42 sessions, falling to 204,975 tonnes, while Chilean copper production is expected to decline by 2.6% in 2026, further tightening supply. Strong speculative long positions on COMEX copper have also contributed to the rally, with net long positions increasing to 80,880 lots.",
  "summary": "ING’s Ewa Manthey and Warren Patterson report that LME copper has surged to a record high above $14,000/t, with a sharply backwardated cash/3M spread underscoring near-term tightness.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}