Copper Heads for Record Close in London on Tighter Global Market

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessCopper Heads for Record Close in London on Tighter Global MarketCopper headed for a record close in London after strong gains fueled by signs of tighter supply across the global market.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Copper headed for a record close in London after strong gains fueled by signs of tighter supply across the global market.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe metal traded 0.6% higher at $14,193.50 a ton on the London Metal Exchange, putting it above the closing high that was set in mid-May. While growing optimism about demand from data centers and power grids is underpinning the advance, supply-side factors have been just as critical.Huge volumes of metal have been shipped into the US this year in anticipation of a decision on import tariffs by President Donald Trump, pulling metal away from LME-tracked warehouses worldwide. Meanwhile, there’s also been more buying activity from China, sharpening competition for supplies.Copper — used in wiring, batteries and piping — has rallied 14% so far in 2026, building on a run of three annual gains. The commodity’s long-term upswing has its roots in the rising need for electrification powered by the energy transition. At the same time, ore grades at some existing mines have been declining, while major new pits are getting harder and more costly to develop.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAmong the clearest indicators of tighter supply is the widening premium of cash prices over three-month futures on the LME. On Thursday, the spread flared to more than $150 a ton at one point, the most since last October. The structure, known as backwardation, is a sign of short-term pressure on buyers.Copper is on pace for a sixth weekly gain, the longest run since 2020. Other metals also rose, with zinc on course for a weekly climb of more than 4%, near a four-year high, and aluminum at the highest since June.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.