Copper Pushes Higher Again on Codelco’s Offer and Rate Cut Hopes

Copper rose as Chilean producer Codelco pushed for a huge hike in its annual premium and as expectations grew for an interest-rate cut in the US before year-end.

Futures climbed to trade around $11,000 a ton, after rising 0.4% on Tuesday. Codelco offered to supply some Chinese buyers at a premium of $350 a ton over London Metal Exchange prices for 2026 annual contracts, highlighting concerns that a rush of shipments to the US may soon create shortages elsewhere.