Copper futures on the New York Comex exchange have reached a new record high as traders factor in the potential impact of significant import tariffs on this key industrial metal. This surge also follows reports of halted shipments from Chile, one of the top producers.
On Tuesday, Comex copper prices climbed to $5.2145 per pound, surpassing the earlier record of $5.199 established on May 20. Contributing to this all-time high was a Bloomberg report indicating that Glencore Plc had temporarily paused copper shipments from its Altonorte smelter due to an issue affecting the plant’s furnace.
— news from Bloomberg