Copper Racks Up Longest Rally Since 2017 With Bulls at Helm

Group 1 - Copper has recorded its longest winning streak since 2017, rising 2.7% to settle at $12,558.50 a ton, marking the eighth consecutive day of gains driven by supply chain stress [1] - Copper futures have surged by over 40% this year, representing the largest annual increase since 2009, with a weaker US dollar contributing to the price rise [2] - Supply issues have significantly impacted the copper market, with mines in Indonesia, Chile, and the Democratic Republic of the Congo facing accidents, while aluminum production is threatened by higher energy costs and supply limits in China [3] Group 2 - The potential for US import tariffs on copper is a major driver of market sentiment, with warnings of an extreme shortage of copper globally by 2026 [3] - Investor sentiment regarding US copper tariffs is expected to influence copper prices in the coming months, focusing on regional stock levels and material entering the US rather than global fundamentals [4] - Despite rising inventories in the US exchange, the premium for March copper futures on Comex has decreased, indicating a complex market situation influenced by macroeconomic outlook and supply risks [5] Group 3 - Other metals on the exchange, particularly nickel, have also seen price increases, driven by supply cut plans from top producer Indonesia [6]