Copper prices hit record high, keep rising

September futures for copper on the Comex exchange are trading at $6.73 per pound, which is 0.3% higher than the closing level on August 25.

Consensus

Copper prices reached a record high on August 25.
Three-month copper futures on the LME rose 0.5% on August 25 to $14,349.5 per ton.
On August 26, LME copper futures rose another 0.5% to $14,415.5 per ton.
September copper futures on Comex traded at $6.73 per pound on August 26, a 0.3% increase from the previous day's close.
Copper prices on the LME have risen by approximately 16% year-to-date.
Increased shipments of copper to the U.S. and reduced inventories in other countries are contributing factors to price growth.

Zijin Mining warned that flooding at a copper mine in the Democratic Republic of the Congo could reduce the company's production by 57,000 tons this year, adding market pressure. — interfax