Copper hits five-month high as supply disruptions deepen – ING

FXStreetOct 6, 2025 10:35 AM

View all comments（0）



LME Copper prices extended the upward rally for a fourth straight session this morning, with prices moving above $10,785/t (the highest since May 2024), amid expectations of US interest rate cuts and ongoing supply disruptions, ING's commodity experts Ewa Manthey and Warren Patterson note.

Industrial metals rally on rate-cut hopes and mine outages

"Recent reports of supply disruptions at major mines – including Freeport-McMoRan Inc. (Grasberg), Codelco (EI Teniente) and Hudbay Minerals Inc. – have led to a sharp downward revision in the output guidance for the year."

"Meanwhile, LME data shows that on-warrant inventories for lead fell by 26,525 tonnes (the biggest daily decline since 18 July 2025) after reporting gains for three consecutive sessions to 185,200 tonnes as of 3 October, the lowest since 20 May 2025. Most of the outflows were reported into Singapore warehouses."

"Total inventories of lead rose by 3,750 tonnes for a fourth straight session to 237,500 tonnes, while cancelled warrants increased by 30,275 tonnes for a second consecutive session to 52,300 tonnes for the period."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Escalating US-Iran Conflict Drives Up Oil Prices, WTI Returns Above $90, Gold Falls Near $4,300

TradingKey - As of the Asian trading session on September 2, international oil prices rose sharply, with WTI crude (USOIL) reclaiming $90 and Brent crude (UKOIL) surging above $95 to hit a high of $97.04. Meanwhile, gold prices (XAUUSD) continued to slide, with spot gold dropping to around $4,300. The further escalation of the US-Iran conflict drove up energy prices and global bond yields, becoming the primary trading driver in the commodities market.

Today’s Market Recap: Nasdaq Drops Over 1%, Dell Surges 8% After Hours, WTI Crude Tops $90 as US-Iran Conflict Escalates

TradingKey - On September 1 ET, the three major US stock indices closed lower across the board, with the Nasdaq falling by over 1%. The US launched another airstrike against Iran, further escalating the US-Iran military conflict, which pushed international oil prices sharply higher and drove US Trea

SanDisk Stock Forecast: QLC Enterprise SSD Enters Volume Ramp Phase, Revenue Rises 103% QoQ, Stock Expected to Extend Rally

On September 1 Eastern Time, shares of SanDisk (SNDK) rose 5% yesterday after being included in the MSCI USA Standard Index, and subsequently reversed earlier losses to gain over 2% today. According to the latest memory industry research from TrendForce, combined revenue for the world's top five Enterprise SSD brands reached nearly $37.59 billion in the second quarter of 2026, representing a quarter-on-quarter surge of 103.6%.

Broadcom Q3 Earnings Preview: AI Revenue Growth Is Key, Wall Street's Highest Price Target at $630

TradingKey - Custom AI chip giant Broadcom (AVGO) will release its third-quarter fiscal 2026 earnings report after the market close on September 2, Eastern Time.

SpaceX Stock Forecast: After a 19% IPO Surge, Can SPCX Keep Climbing Before Earnings?

SpaceX SPCX at $171.91, clearing Fib 0.236 at $170.19 after a +19.2% debut close at $160.95. IPO closes June 15. First earnings September 2, 2026. 18,712 BTC in treasury. MSCI inclusion T+1. Fib target $183.96.

Featured Tools