Copper approaches record high amid supply issues

Copper prices rose for the third consecutive session, driven by concerns over supply shortages and declining global inventories, despite pressure from the strength of the US dollar. The price of copper on the London Metal Exchange reached $14,636.50 per ton, nearing its all-time high, amid ongoing mining disruptions and falling inventories—particularly after Kodilka's operations were suspended due to a landslide and labor strikes, along with disruptions at other mines worldwide. The limited supply and decreasing inventories, which fell to 232,275 tons, bolster expectations of price increases, even as the ongoing strength of the dollar—remaining near its 18-month high—continues to exert downward pressure.

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