41m ago
LME copper hits record $14,533 a tonne as prices climb 17% over the past year
Copper on the London Metal Exchange hit a record $14,533 per tonne, taking its gain to 17% over the past year. The move has been driven by expectations of US tariffs on refined copper imports, a buildup of US inventories, and long-term demand growth from data centres, renewables, power grids and electric vehicles. Goldman Sachs had forecast $11,200 per tonne for the fourth quarter of 2026 and Deutsche Bank had expected a $12,125 per tonne average for the year, but prices have risen well beyond those levels.
41m ago
1h ago
LME copper hits record $14,533 a ton as Trump tariff expectations and tight supply bite
Copper on the London Metal Exchange surged to a record $14,533 a ton, up 17% so far this year. Traders have been rushing shipments into the U.S. for months on expectations President Donald Trump could impose tariffs on imported refined copper. That flow has pushed LME inventories outside the U.S. down to the lowest since June last year, tightening global supply further. Recent earnings reports from major copper miners also showed sharp profit gains.
1h ago
1h ago
Copper posts longest weekly rally since 1994 as supply chain tightens
LME copper has logged its longest run of weekly gains since 1994, with prices trading near $14,300 a ton and close to record highs. Supply is tightening as Freeport cut its 2026 output guidance at Indonesia’s Grasberg complex by roughly a third and global mine production fell 1.1% in the first half of the year. Chile’s second-quarter output was its weakest in at least 19 years, while uncertainty over Congo’s export ban and U.S. tariff decisions is adding pressure on supply chains.
1h ago
6h ago
Bernstein cuts Alibaba target to $165 after $10.2 billion equity raise, shares slide 5%
Alibaba said it will raise $10.2 billion through an equity offering to support its AI expansion, prompting investor worries about dilution and whether the added capital spending is efficient. Bernstein analyst Robin Zhu lowered his price target to $165 from $180, a cut of about 8%, while reiterating an Outperform rating. With $30.7 billion in net cash, some investors have questioned the need for issuing new shares. Capital spending rose 75% year over year to about $10.07 billion, and the average analyst price target is $189.46, implying roughly 67.31% upside.
6h ago
8h ago
Indian rupee ends flat at 94.4850 per dollar as RBI dollar sales offset oil-price pressure
The Indian rupee closed essentially unchanged on Monday, with the central bank supporting the currency through dollar sales. Brent crude rose to $96.6 a barrel, and Goldman Sachs warned prices could reach $120 if attacks on shipping escalate, adding to pressure on India’s current account. After strong U.S. jobs data, markets priced about a 57% chance of a Federal Reserve rate hike this month, while the dollar index eased to 98.9 and Asian currencies were mixed.
8h ago