10:59 - 18.08.2026

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August 18, Fineko/abc.az. A widening spread between prompt and forward contracts on the London Metal Exchange (LME) has signaled an acute short-term supply squeeze, heightening market volatility.

The one-day spread reached a $75 per ton premium, the highest gap since January's record levels. A major driver behind the supply tightness is the diversion of hundreds of thousands of tons of copper to the United States ahead of potential import tariffs under the Donald Trump administration, which has drained inventories in other regions.

Spot copper traded up to $545 per ton above the three-month contract. Copper prices have risen by over 13% this year. However, early signs of relief emerged as LME warehouse stocks recorded a net increase, bolstered by the addition of over 3,000 tons of copper in Malaysian depots. LME three-month copper futures dipped 0.4% to $14,101.50 per ton.