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Copper stabilizes near $14,000
Copper prices stabilized near $14,000 per ton on the London Metal Exchange after declining earlier, as traders shifted their focus to U.S. supplies in anticipation of possible tariff impositions, leading to a temporary shortage in global markets. The recent influx of large shipments into the exchange helped improve the supply situation, with three-month futures trading at a premium of $86.75 per ton over the spot price, reflecting current ample supply conditions. On the demand side, Chinese data showed an improvement in industrial output in August, despite declines in consumption and investment. Meanwhile, markets are awaiting the Federal Reserve's meeting regarding potential interest rate hikes, which is exerting downward pressure on metal prices. Copper experienced a slight increase of 0.1%, reaching $14,014.50 per ton, while aluminum prices remained steady and zinc decreased by 0.6%.
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