Copper Resumes March Toward Record on Tight Supply Outlook

Copper climbed back toward a record amid fresh warnings the market will face sizable shortages as mines fail to keep pace with demand.

Prices rose Wednesday despite a recent slowdown in Chinese demand, and there were fresh signs of stress in the country’s manufacturing sector as data showed producer prices fell for the 38th straight month. Still, many investors are bullish on copper’s long-term prospects as use accelerates in renewables, electric vehicles and data centers.