Copper Jumps to New 14-Month High on Supply Risks, Demand Hopes

Copper rose 0.7% to $9,329 a ton on the LME as of 10:56 a.m. in Singapore time. — Copper rose 0.7% to $9,329 a ton on the LME as of 10:56 a.m. in Singapore time.
Photographer: Oliver Bunic/Bloomberg

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By Mark Burton and Annie Lee

April 4, 2024 at 2:57 AM UTC

Updated on

April 4, 2024 at 4:23 PM UTC

This article is for subscribers only.

Copper rallied to the highest in 14 months as investors flock to the bellwether industrial metal in response to rising supply risks and hopes for a global recovery in demand.

Prices climbed as much 1.5% on Thursday after dovish comments from Federal Reserve Chair Jerome Powell added impetus to a rally that began in early February on fast-mounting risks to supply.