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Copper LME price surges to £ 5.01 / kg as stocks ease to 271 kT

London Metal Exchange

Copper price surges to 32-month high as hedge funds place $20 billion bet. Supply side issues are forcing copper prices to levels not seen since 2013 as hedge funds bet long (future prices higher).

This has to be a short term feature as mining companies scramble to increase output, but will cause headaches for copper buyers around the world.