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Copper crunch alert: Traders pay a $370/t premium for prompt LME metal

AI Market Summary
LME copper time spreads have surged, with the cash-3M premium reaching levels last seen during the 2021 supply squeeze, while exchange inventories have fallen for 42 consecutive sessions, the longest drawdown since 2014. The unusually high prompt premium signals acute nearby scarcity and tight deliverable supply, increasing sensitivity to disruptions and raising near-term volatility across industrial metals.
Impact level
● High
Affected assets
NCCO724COPPER2USD/USDT-0.21%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
The London Metal Exchange copper prompt spread surged on Aug. 14, with the nearby contract trading at a premium of $370 a tonne. The cash-to-three-month spread climbed to $434 a tonne, the strongest levels since the 2021 supply squeeze. LME copper inventories have now fallen for 42 straight sessions, the longest run of declines since 2014, underscoring exceptionally tight conditions in the physical market.
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