{
  "id": 9179005,
  "title": "Copper price closes in on new record as Shanghai, London warehouses empty out",
  "url": "https://urgent.news/2026/09/22/copper-price-closes-in-on-new-record-as-shanghai-london-warehouses",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T18:21:09.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/copper-price-closes-in-on-new-record-as-shanghai-london-warehouses-empty-out/"
  },
  "original_language": "en",
  "account": "Copper prices edged closer to a new record on Tuesday as warehouses in Shanghai and London emptied out. Chinese buyers were stocking up ahead of the upcoming holidays, while inventories in both major trading hubs were dwindling. The Comex copper for December delivery reached a high of $6.8710 a pound in New York, just shy of the all-time high of $6.8885 set on September 9. London's benchmark three-month copper also rose, trading near its September 10 peak of $14,875 per tonne. The Yangshan premium for delivered copper in Shanghai hit its highest level in nearly four years. Seasonal restocking and constrained spot availability were helping to support copper prices, despite uncertainty surrounding US tariffs. Chinese markets closed from September 25 to 27 and again from October 1 to 7, causing a shortage of physical metal. Comex warehouses held 696,204 tonnes of copper, but that number is decreasing due to importers rushing in more metal ahead of potential tariffs. While some analysts believe the rally may be overinflated, copper producers have benefited from the price increase, extending gains from the week prior.",
  "summary": "Imported copper landing in China is going straight to fabricators and skipping warehouses with Shanghai stocks dropping 70% since June.",
  "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."
}