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Copper prices hold steady around $14,000
Copper prices stabilized around $14,000 per ton on the London Metal Exchange after declining from their previous record levels, as traders shifted their focus to U.S. supplies in anticipation of tariffs, which created a shortage in the global market. The arrival of the largest shipments in four weeks into warehouses helped ease the supply crunch, with price differences between futures contracts and the spot market reaching $86.75 per ton, indicating ample supply. On the demand side, data showed an improvement in China's industrial production in August, despite declines in consumption and investment. Meanwhile, the market is awaiting the U.S. Federal Reserve meeting, which may raise interest rates, putting pressure on commodity prices.
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