Copper Nears $12,000 a Ton as Supply Cuts Fuel Annual Surge

Core Insights - Copper prices are approaching $12,000 a ton, nearing an all-time high due to supply setbacks and tariff-related trade dislocations [1] - Prices have increased by approximately 37% this year, marking the largest annual gain since 2009 [1] Group 1: Market Dynamics - The recent rally in copper prices is influenced by a broader increase in risk assets, although there are concerns about relatively soft global demand [2] - Analysts indicate that the rise in copper prices is primarily driven by macroeconomic factors and supply-side dynamics rather than strong demand [3] Group 2: Performance of Other Metals - Other industrial metals such as aluminum, zinc, tin, lead, and nickel are also experiencing significant annual gains, with aluminum reaching its highest intraday level since the aftermath of Russia's invasion of Ukraine [3] - As of the latest data, LME copper was trading at $11,973 a ton, with other metals like aluminum and nickel also showing price increases [4]