Copper futures hit new record in China, extend gains on Comex

Copper futures hit record highs in China and gained on Comex, with Freeport-McMoRan and Southern Copper stocks rising pre-market. Shanghai Futures Exchange copper prices reached nearly 100,000 yuan/ton, while Comex copper hit $5.774/lb, the highest since July. LME copper settled at $12,162.50/ton. Copper is expected to benefit from the global energy transition, with supply risks contributing to price increases. ETFs related to copper include CPER, COPX, and JJCTF.