Copper prices hit a new record on concerns of supply shortages
Copper prices, in trading on Wednesday, reached a new record high due to the increase in withdrawals from London Metal Exchange warehouses, with fears that US tariffs potentially lead to a shortage in global supplies.
Bloomberg News Agency reported that futures prices For copper rose by 2.6% in London Stock Exchange trading to reach more than $11,400 per ton, exceeding the record level recorded last week after data showed an increase in orders for copper from its warehouses in Asia.
The price of copper has witnessed a sharp rise in recent weeks, with the possibility of global stocks falling to very low levels, and huge quantities being shipped to the United States in anticipation of imposing customs duties on its imports.
The global indicative price rose. for the London Metal Exchange by more than 30% during the current year.
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