Copper extends gains as Goldman sees 2025 price peak in August
Copper extended gains for a fifth day, after Goldman Sachs Group said it expected prices to rise to a 2025 peak of around $10 050 a ton in August, as supplies outside the US tighten. Traders of copper are experiencing a major squeeze on the London Metal Exchange after premiums for spot contracts spiked. The supply tightness is being driven by record shipments to the US after proposals for tariffs fueled a surge in prices there, draining other inventories.
Copper extended gains for a fifth day, after Goldman Sachs Group said it expected prices to rise to a 2025 peak of around $10 050 a ton in August, as supplies outside the US tighten.
Traders of copper are experiencing a major squeeze on the London Metal Exchange after premiums for spot contracts spiked. The supply tightness is being driven by record shipments to the US after proposals for tariffs fueled a surge in prices there, draining other inventories.
