{"id":563,"date":"2025-12-05T06:05:08","date_gmt":"2025-12-05T06:05:08","guid":{"rendered":"https:\/\/microvibenews.com\/?p=563"},"modified":"2025-12-05T06:05:08","modified_gmt":"2025-12-05T06:05:08","slug":"copper-rises-to-record-on-bullish-citi-outlook-supply-concerns","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=563","title":{"rendered":"Copper rises to record on bullish Citi outlook, supply concerns"},"content":{"rendered":"<p><\/p>\n<div id=\"textFreeArticle\">\n<p>Copper rose to a record, underpinned by a bullish price outlook from Citigroup and a looming supply-demand imbalance.<\/p>\n<p>The industrial metal rose as much as 1.2% to $11 581.50 a ton, surpassing a previous high set earlier this week. Copper will average $13 000 in the second quarter as metal is stockpiled in the US, creating a deficit elsewhere, according to the base scenario presented by Citi analysts in a note on Friday.<\/p>\n<p>Traders are anticipating supply dislocations as more metal flows to America ahead of the possible introduction of import tariffs. The copper market is set to enter a structural deficit next year with the shortfall widening over the next decade on robust demand and constrained supply, BloombergNEF said in a report Thursday.<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<p>Preparing itself for such a supply crunch, trading house Mercuria Energy Group ordered about $500 million of copper for withdrawal from London Metal Exchange warehouses, according to people familiar with the matter \u2013 the biggest cancellation of stock in more than a decade.<\/p>\n<p>\u201cWe have conviction in copper upside through 2026 supported by multiple bullish catalysts, including an incrementally constructive fundamental and macro backdrop,\u201d the Citi analysts including Max Layton said.<\/p>\n<p>Other analysts have issued more conservative outlooks for copper in recent days. While the metal is expected to remain \u201cvolatile\u201d and could easily reach new highs, prices above $11,000 a ton are not sustainable as the global market is not physically tight, Macquarie Group analysts led by Peter Taylor said in a note on Thursday.<\/p>\n<p>Copper inventories at global exchanges have spiked to over 656 000 tons, the highest since 2018, with around two-thirds held in warehouses under Comex in the US. Macquarie\u2019s view echoed caution from Goldman Sachs Group Inc. earlier this week, which doesn\u2019t expect a copper shortage until 2029.<\/p>\n<p>Copper rose 1.1% to $11 572.50 a ton on the London Metal Exchange as of 11:20 a.m. in Shanghai. Other metals edged up, with aluminum gaining 0.1% and zinc climbing 0.3%.<\/p>\n<p>\u00a9 2025 Bloomberg<\/p>\n<p><em>Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n<p><script data-cfasync=\"false\">\n            !function(f,b,e,v,n,t,s)\n            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n                n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n                if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n                n.queue=[];t=b.createElement(e);t.async=!0;\n                t.src=v;s=b.getElementsByTagName(e)[0];\n                s.parentNode.insertBefore(t,s)}(window, document,'script',\n                'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n            fbq('init', '779812924991616');\n            fbq('track', 'PageView');\n        <\/script>#Copper #rises #record #bullish #Citi #outlook #supply #concerns<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Copper rose to a record, under&hellip; <\/p>\n","protected":false},"author":1,"featured_media":564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[315,316,319,312,317,314,313,318],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/563"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=563"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/564"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}