{"id":938,"date":"2026-05-13T07:50:19","date_gmt":"2026-05-13T07:50:19","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=938"},"modified":"2026-05-13T07:50:19","modified_gmt":"2026-05-13T07:50:19","slug":"copper-advances-as-investors-buy-over-supply-concerns","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=938","title":{"rendered":"Copper advances as investors buy over supply concerns"},"content":{"rendered":"

Copper<\/strong> <\/a>advanced to a three-month high on Wednesday as investors continued to buy on future supply concerns as uncertainties in the Middle East kept oil prices high and higher-than-expected U.S. inflation dimmed hopes for any near-term rate easing.<\/strong><\/p>\n

The benchmark three-month copper on the London Metal Exchange rose 0.83% to $14,137.50 a metric ton as of 0700 GMT after reaching $14,196.50, a more than three-month high.<\/p>\n

The most-active copper contract on the Shanghai Futures Exchange closed daytime trading 1.67% higher at 108,510 yuan ($15,980.15) a ton, after also reaching an over three-month high of 108,900 yuan.<\/p>\n

Freeport-McMoRan maintained its end-2027 timeline for a full recovery at its Grasberg mine in Indonesia, while traders monitored risks to the mining industry in Peru over fuel after state-run Petroperu sought $2 billion in state-backed loans.<\/p>\n

Copper broke out of a prolonged trading range and climbed above $13,500 a ton with little resistance on the upside, analysts at Chinese broker Galaxy Futures said, adding that momentum buying and stronger sentiment quickly pushed prices higher.<\/p>\n

The red metal, often dubbed \u201cDr. Copper\u201d for its role as a bellwether of the macroeconomy, is heading into its eighth consecutive day of gains despite unfavourable macro factors.<\/p>\n

Oil prices slipped on Wednesday but remained elevated, with Brent above $106 a barrel, as investors watched a fragile ceasefire in the Iran war and awaited U.S. President Donald Trump\u2019s meeting with Chinese President Xi Jinping.<\/p>\n

Higher energy prices are feeding through into inflation. U.S. consumer prices rose 3.8% in the 12 months through April, the biggest increase since May 2023, while markets have largely priced out any chance of a Federal Reserve rate cut this year.<\/p>\n

A stronger-for-longer rates outlook typically weighs on dollar-priced metals by lifting the U.S. currency and raising financing costs.<\/p>\n

Among other metals on the LME, aluminium gained 1.07%, zinc added 0.45%, lead rose 0.55%, nickel increased 1.04% and tin advanced 1.46%.<\/p>\n

Elsewhere on SHFE, aluminium rose0.97%, zinc climbed 1.78%, lead ticked 0.15% higher, nickel was up 0.17%, and tin gained 0.99%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Copper advanced to a three-month high on Wednesday as investors continued to buy on future supply concerns as uncertainties in the Middle East kept oil prices high and higher-than-expected U.S. inflation dimmed hopes for any near-term rate easing. The benchmark three-month copper on the London Metal Exchange rose 0.83% to $14,137.50 a metric ton as […]<\/p>\n","protected":false},"author":0,"featured_media":939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=938"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/939"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}