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Copper Squeeze Deepens In London As Futs Near Record; Barclays Flags Top Mining Picks
Copper Squeeze Deepens In London As Futs Near Record; Barclays Flags Top Mining Picks
Copper prices in London have held above $14,000 a ton for nine consecutive sessions, with steep backwardation signaling that near-term demand is outstripping available supply. A confluence of bullish drivers is pushing prices toward record highs, while the key cash-to-three-month spread has widened to its highest level since the 2021 market squeeze.
The spot price traded as much as $543.50 a ton above three-month contracts on the London Metal Exchange, a hallmark of steep backwardation that...
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