Copper rose to a new all-time high. Investors have been betting on a steady rise in prices due to China's stimulus measures and the accumulation of inventories in the United States against the background of limited supply.Bloomberg writes that on Monday, December 8, the metal rose by 1.3%, exceeding the record mark of $ 11,705 per ton. The growth came after Chinese leaders said that the world's second-largest economy would maintain its "moderately easy" monetary policy and a more active approach to fiscal issues.Copper was also supported by data from Chinese trade, which showed that exports recovered and exceeded forecasts last month, as a result of which the country's trade surplus exceeded $ 1 trillion for the first time in a year. Copper has risen by more than 30% this year on the London Metal Exchange. The price rally has accelerated in recent weeks on concerns about a copper outflow to the United States in anticipation of tariffs in 2026, which has led to a reduction in inventories and a rise in metal premiums in other key regions. Analysts at Chinese brokerage Citic Securities Co. estimated that global refined copper supply could fall by 450,000 tonnes in 2026, partly due to a build-up of US stocks.Prices must average above $12,000 a tonne next year to attract the investment needed for new mining capacity to ensure sufficient supply in the medium to long term, Citic analysts said.At 7:55 a.m. Kyiv time, the price of copper on the London Metal Exchange rose about 1% to $11,735.50 a tonne. Thus, 1 kilogram of metal costs $11.74. Previously, it reached a peak of $11,771.Copper prices - expert forecasts
Earlier, the head of the trading division of the giant Chinese mining company CMOC Group, Kenny Ives, said that copper prices could reach $11,000 or even $12,000 per ton by the end of 2025.In turn, analysts at Goldman Sachs Group Inc. said that the increase in copper prices above $11,000 per ton would be short-lived, because there is not enough metal.
Source: https://www.unian.ua/economics/other/mid-vstanovila-noviy-rekord-skilki-koshtuye-1-kg-midi-na-sogodni-13219755.html
