Copper Holds Above $14,000 as U.S. Stockpiling Tightens Global Supply
Dow Jones08-07
0817 GMT - Copper prices hold above $14,000 a metric ton as fears of potential U.S. import tariffs continue to draw large volumes of metal into the country, tightening physical markets elsewhere. "Tight physical markets, low inventories and constrained mine supply should continue to underpin prices," ING analysts say. However, "with copper trading close to record highs, any disappointment on U.S. tariff measures could trigger a period of consolidation." In early trading, three-month copper futures on the London Metal Exchange are up 0.4% to $14,155 a metric ton, on track for their highest close since mid-May.
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