{
  "id": 6149518,
  "title": "Copper touches record high, focus on tight supplies outside US",
  "url": "https://urgent.news/2026/09/07/copper-touches-record-high-focus-on-tight-supplies-outside-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T16:24:59.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/us-stocks/wall-street-guide/copper-touches-record-high-focus-on-tight-supplies-outside-us/articleshow/133889161.cms"
  },
  "original_language": "en",
  "account": "Copper prices soared to a record high of $14,533 a metric ton on Monday, driven by concerns over limited supplies outside the United States, according to a Reuters report. The surge was further bolstered by a weaker U.S. dollar, which makes dollar-priced metals more affordable for international buyers. On the London Metal Exchange, benchmark copper reached its highest level since January, edging up to $14,518 by midday as trading volumes remained limited due to a U.S. holiday.\n\nTraders and producers have been shipping substantial volumes of copper to the U.S. since President Donald Trump suggested import tariffs in February 2022. The Comex copper stocks are currently at a record high of 766,795 short tons, or 695,624 metric tons. Analyst Albert Mackenzie from Benchmark Mineral Intelligence stated that the ongoing uncertainty surrounding potential tariffs will keep prices elevated as material flows to the U.S. Elevated premiums for nearby contracts over longer-dated forwards have encouraged some copper to return to the London Metal Exchange (LME).\n\nHowever, cancelled warrants, which represent metal earmarked for delivery, accounted for 51% of the total, suggesting that over 121,000 tons of copper may leave the LME system in the coming weeks. The premium for cash copper over the three-month forward contract climbed above $430 a ton in mid-August, its highest level since 2021, and closed at around $74 on Friday. Tight supplies outside the U.S. are also evident in the warehouse stocks monitored by the Shanghai Futures Exchange, which stood at 63,000 tons, a 85% decrease since the middle of March and the lowest level since January 2024. Copper prices on the Shanghai Futures Exchange are also experiencing backwardation, indicating growing concerns within the industry in the world's top consumer, China.",
  "summary": "Copper prices hit a record high as concerns over shortages outside the US boosted buying, while a weaker dollar supported metals. LME copper touched $14,533 a metric ton, surpassing its January peak. Falling Shanghai stocks and strong US inventories highlighted the growing divergence in global copper supplies.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Top News",
        "title": "Copper touches record high, focus on tight supplies outside US",
        "url": "https://urgent.news/2026/09/07/copper-touches-record-high-focus-on-tight-supplies-outside-us-6157039",
        "published": "2026-09-07T16:24:59.000Z"
      }
    ]
  },
  "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."
}