Copper Tensions Run High With Global Market at ‘Historic Point’

The global copper market is facing major upheaval, triggered by supply-demand imbalances, the shifting role of China and the uncertainty surrounding US President Donald Trump’s trade agenda.

Against that backdrop, pricing talks were unusually fierce during a major industry gathering in Shanghai this week. Miners heaped pressure on smelters to accept record-low fees for processing ore. For refined metal shipped to China, yearly premiums jumped to an all-time high.