LME COPPER fell from the top three months on Monday, while the reference spread to three months-after he moved back for the first time since June 2023 on Friday-now returned to Contango. The short overcoming LME before the expiration of the contract ended amid US expectations to target copper on a sharp step in the spread of the main copper last week, noting the commodity analysts in Ji Warren Patterson and Ewa Manthey.
LME spreads back to Contango
“US President Donald Trump threatened definitions on customs duties on copper, but he said it would take a little longer than those who were announced in aluminum and steel last week. The threat of customs duties led to temporary distress expectations in the American copper market, with the states United, with the American copper market, traders converting minerals from LEME warehouse turns to the United States to benefit from arbitration. ”
“The US copper futures rose on the LME contract to a record level last week, reaching $ 1,200/tons during the trading session on Friday – more than 10 % of the LME price. This spread came to this record to $ 900 . yesterday.”
“The United States relies on about 45 % of copper imports for its local consumption. Chile is the country’s largest resource by 35 %, followed by Canada by 26 % of the slowing global growth and maintaining inflation for a longer period.
