15:27 - 17.08.2026

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August 17, Fineko/abc.az. Copper extended its rally on the London Metal Exchange (LME), approaching record levels as supply tightness in the physical market became more pronounced.

The spread between spot copper and three-month futures contracts on the LME widened to $478 per tonne, the highest level since the severe squeeze in 2021, signaling intensifying competition for available metal.

Copper has gained nearly 16% this year. Large shipments to the US ahead of a decision on potential import tariffs on refined copper have reduced supplies in other regions. Traders are now watching whether China will export part of its stockpiles to ease the global deficit.

Three-month copper futures on the LME rose 1.4% to $14,363.50 per tonne, moving closer to January’s record high of $14,527.50.