Copper Prices Hit Record High Above $11,000 on May 20 Amid Supply Shortage Bets

May 20, 2024, 10:19 AM

Copper prices surged to an all-time high on Monday, May 20, with the London Metal Exchange (LME) recording prices above $11,000 per metric ton. This increase, which marks a rise of more than 25% this year, is driven by investor bets on an impending supply shortage. Financial investors have been piling into the market, fueling a months-long rally.