Copper Rebounds Toward Record High
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Copper futures in the US have risen above $5.6 per pound, nearing the record high of $5.8 from December 26th, with a projected annual gain of 45%. Supply risks have increased due to halted operations at Freeport-McMoRan's Grasberg mine in Indonesia and protests in Chile and Peru. Additionally, potential tariffs on copper by President Trump have influenced market dynamics, while demand remains strong due to electrification technologies and growth in data center and AI infrastructure spending.
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