Copper Prices Are at a Record High on Supply Stress, Mine Disruptions

Copper Market Analysis - Copper supply concerns have been ongoing for years and are now coming to a head [1] - Mine supply has taken a hit this year, leading to insufficient supply for new smelters globally [2] - Expectations of US tariffs on refined copper are driving metal into the US, potentially leaving the rest of the world short [3] - A well-known copper trader predicts a significant copper price increase next year [3] - The combination of factors is pushing copper prices to record highs [4] Silver Market Analysis - A rush of silver into the US occurred in October due to a squeeze in the COMEX silver market [4] - This rush was related to tariff expectations and short supply in the rest of the world [5] - Warehouses in China have limited silver supplies [5] - The global silver market outside the US is stretched, making it vulnerable to price spikes [5]