LME Copper Can Reach $10,000 Before Tariffs Bite, Citigroup Says
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Copper will hit $10,000 a ton in London during the coming three months, according to Citigroup Inc., which said the global market will remain tight until the timeline for US import tariffs becomes clearer.
The metal climbed in recent weeks after President Donald Trump ordered a probe into copper imports, sparking a rally in US prices and a rush to ship metal there ahead of any levies. The global benchmark price set on the London Metal Exchange closed at $9,770 a ton Wednesday, while futures in New York already are trading comfortably above $10,000 a ton.