Copper's Longest Rally Since 1994 Collides With a Shrinking Supply Chain ...Middle East

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Coppers Longest Rally Since 1994 Collides With a Shrinking Supply Chain
Copper is riding its longest weekly winning streak since 1994, and the physical market underneath the rally keeps getting thinner. Benchmark prices on the London Metal Exchange notched a 10th straight weekly gain through last Friday, trading near $14,300 a ton and within reach of the record $14,527.50 set in January. On Comex, prices topped $6.70 a pound in August, a fresh all-time high. Behind the run sits inventory that keeps draining: LME warehouse stocks fell for 42 straight days through mid-August, the longest stretch since 2014, and nearly…

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