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Copper prices scale fresh record high as focus turns to tight supplies outside US

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Copper prices scale fresh record high as focus turns to tight supplies outside US
Copper prices hit a record high on Monday as the prospect of shortages outside the U.S. fuelled buying, while a softer dollar further supported positive sentiment, according to a Reuters report.

Traders said volumes were likely to remain muted due to a U.S. holiday, with attention focused on copper and zinc.

Benchmark copper on the London Metal Exchange touched a record high of $14,533 a metric ton, surpassing its previous all-time peak of $14,527.50 reached in January. It later pared gains slightly to $14,518 by 1515 GMT, up 0.7%.

Also read: Brent crude oil price nears $100 as attacks on tankers threaten to worsen supply shock

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Traders and producers have been shipping large volumes of copper to the U.S. since President Donald Trump first mooted import tariffs in February last year. Comex copper stocks currently stand at a record 766,795 short tons, or 695,624 metric tons.


“It’s hard to ​know what will happen on tariffs, but the longer ⁠there is ‌uncertainty, the longer prices will remain elevated as material flows ​to the U.S.,” ​Albert Mackenzie, an analyst at Benchmark Mineral Intelligence, told Reuters.
Elevated premiums, or backwardations, for nearby contracts over longer-dated forwards have encouraged some copper to flow back to the LME.However, cancelled warrants, which represent metal earmarked for delivery, stood at 51%, indicating that more than 121,000 tons of copper is likely to leave the LME system over the next few weeks.

The premium for cash copper over the three-month forward contract climbed above $430 a ton in the middle of August, its highest level since 2021. It closed at around $74 on Friday.

Another indication of tightening supplies outside the U.S. is the level of stocks in warehouses monitored by the Shanghai Futures Exchange. Inventories stood at 63,000 tons, down 85% since the middle of March and at their lowest level since January 2024.

Copper prices on the SHFE are also in backwardation, suggesting that the industry in top consumer China is increasingly concerned about supplies.

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Elsewhere, zinc gained 1.1% to $3,988 a ton, supported by tight supplies, after touching its highest level since May 2022 at $3,998.

A weaker U.S. currency, which makes dollar-priced metals cheaper for holders of other currencies, provided broader support to base metals.

Aluminium rose 0.7% to $3,315 a ton and tin added 0.4% to $55,100, while nickel slipped 0.7% to $16,725 and lead declined 0.3% to $1,903.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)

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Sebi extends deadline for angel funds to comply with accredited investor mandate

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Sebi extends deadline for angel funds to comply with accredited investor mandate
The Securities and Exchange Board of India (SEBI) has extended the deadline for angel funds registered on or before September 10, 2025, to comply with the accredited investor mandate to March 31, 2027, according to its latest circular.

The market regulator said the extension was decided based on representations from the Alternative Investment Fund (AIF) industry seeking additional time for existing angel funds to meet the mandate.

Under the revised timeline, angel funds registered with SEBI on or before September 10, 2025, will have to implement the accredited investor mandate by March 31, 2027. During the extended transition period, these funds cannot offer investment opportunities to more than 200 non-accredited investors, SEBI said.

Such angel funds will also not be allowed to accept contributions from non-accredited investors for investment in an investee company after March 31, 2027, according to the circular.

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Existing investors in these angel funds will continue to hold their investments already made in the funds in accordance with the terms of the private placement memorandum (PPM) and/or other fund documents, SEBI said.


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The revised deadline replaces the earlier timeline of September 8, 2026. Under the previous provisions, angel funds registered with SEBI on or before September 10, 2025, were required to implement the accredited investor mandate by September 8, 2026 and could not offer investment opportunities to more than 200 non-accredited investors during the transition period.SEBI had amended the AIF Regulations on September 9, 2025, to prescribe a revised regulatory framework for angel funds. It subsequently issued a circular on September 10, 2025, specifying the conditions and modalities for the revised framework. These provisions were later subsumed into Chapter 8 of SEBI’s AIF Master Circular dated June 3, 2026.

For angel funds granted registration after September 10, 2025, the existing requirement remains unchanged. Such funds are required to onboard and offer investment opportunities only to Accredited Investors, SEBI said. All other provisions under Chapter 8 of the AIF Master Circular remain unchanged. The latest circular comes into force with immediate effect.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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