Copper set for biggest annual gain in 16 years, best performer among base metals
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Copper is set for its largest annual gain since 2009, driven by supply concerns and increased demand from the AI boom and energy transition. The metal is expected to finish the year with over a 43% gain, despite a slight dip to $12,538 per metric ton. Supply disruptions, including the suspension of Freeport's Grasberg mine, have contributed to the rally. Other base metals like tin and aluminum are also seeing significant annual gains, while nickel is on track for its first yearly gain since 2023. Overall, the base metals market is experiencing strong performance amid tight supply conditions.
Source: Reuters The copyright of this article belongs to the original author/organization.
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