Copper Holds Near Record High as Supply Fears Grip Global Market

Copper advanced to a record high in London on fears the global market is heading for a supply crunch.

The metal rose as much as 1.3% to $11,334 a ton on the London Metal Exchange before trimming gains, surpassing a peak reached on Friday, while futures on the Comex in the US surged as much as 1.7%. A rush to get copper to America ahead of possible import tariffs looks set to exacerbate shortfalls elsewhere as miners struggle to keep up with demand.