Commodities
Copper Nears $12,000 a Ton as Base Metals Stage Broad Rally
A truck transporting slag to a dumping site at a nickel processing plant in Sorowako, South Sulawesi, Indonesia.
Photographer: Dimas Ardian/BloombergCopper neared a record high, with a renewed rally in US tech stocks helping to boost investor sentiment at a time of tightening supply in many metal markets.
Prices for the bellwether industrial metal rallied as much as 1.3% to $11,928 a ton, within $25 of an all-time high and nearing the $12,000 mark. Prices have climbed by more than a third this year, bolstered by mine outages, a surge in US imports and a bullish outlook for usage linked to artificial intelligence.