Copper Spread Widens to Most in More Than 25 Years on Supply Squeeze
- Contract traded at $1,000-plus premium to futures in London
- LME says it is closely monitoring copper-market price activity
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The copper market is so tight that spot contracts traded at the biggest premium over futures in at least 27 years in London.
The spread between cash and three-month futures surged to over $1,000 a ton on the London Metal Exchange on Monday, a premium not seen since at least 1994. The spread has been widening since early October as demand outpaced supply amid dwindling global exchange inventories.