Copper Rallies Above $14,000 a Ton, Nearing Fresh All-Time High

Copper jumped above $14,000 a ton, closing in on a record high as a rebound in Chinese demand and mounting supply risks outweigh concerns about the Iran war’s impact on global growth.

Prices rose as much as 1.2% to $14,106.50 a ton on the London Metal Exchange, inching closer to an all-time high above $14,500 a ton set in January. The move came even as the Iran war truce remains fragile, with US President Donald Trump showing signs of frustration at a lack of progress in negotiations.