Already a subscriber?Copper is headed to $US10,000 a tonne as traders ramp up bets that miners will struggle to adequately increase supply to meet booming demand for the industrial metal.Copper climbed as much as 1.1 per cent to $US9988 a tonne, settling 0.2 per cent lower at $US9853 a tonne, near its two-year high.Bloomberg
Since then, big producers including Rio Tinto and Anglo American have released softer-than-expected guidance for 2024, with the cumulative curtailments taking more than 5 per cent of global production offline.Economic sanctions Prices initially spiked on the sanctions, which prohibit the delivery of newly produced Russian metals to the London Metal Exchange and the Chicago Mercantile Exchange.
Source: News Formal (newsformal.com)
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