Tag: copper surplus narrowing
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Copper surges above $10,000/t on mine disruptions, tight supply
Operations at Grasberg mine suspended after safety issues Falling LME stocks, China’s steady imports support prices Copper prices on the London Metal Exchange (LME) climbed past $10,000/tonne (t) this week, as supply worries intensified. The immediate trigger came from Freeport-McMoRan’s Grasberg mine in Indonesia, where operations were suspended after safety issues forced worker evacuations. Grasberg…