Posted on

Copper at 10 year high as stocks continue to fall

Copper LME has held steady over the last month at £5.85 / kg while LME bonded stocks have fallen to below 100 kT.

Unless supply increases to rebuild stock levels the price of copper will increase further as dealers who have been holding off ordering for stock have no option other than to buy at the current, relatively high, price.

No dealer would want to be sitting on expensive stock if the price falls but unless supply side issues can be resolved then the current global shortage of copper will continue.