由于交易所库存持续攀升，伦敦铜跌破1万美元

Copper prices slipped below $10,000/ton in London on Tuesday following data showing sharp increases in global inventories at a time of year when stockpiles usually decline.

According to Bloomberg, copper (HG1:COM) on the London Metal Exchange recently traded -1.6% to $9,981/ton, as stockpiles on the Shanghai Futures Exchange have climbed to the highest since 2020, and a steady stream of smaller inflows into Asian depots were reported by the London Metal Exchange in recent weeks.

ETFs: (NYSEARCA:CPER), (COPX) (OTC:JJCTF)

Potentially relevant stocks include Freeport McMoRan (FCX), Southern Copper (SCCO), BHP (BHP), Rio Tinto (RIO), Vale (VALE), Teck Resources (TECK), Hudbay Minerals (HBM), Ero Copper (ERO), Capstone Copper (OTCPK:CSCCF), First Quantum Minerals (OTCPK:FQVLF), Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) and Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY)

"The copper market seems much more sufficiently supplied than some traders had hoped for. Hence a rapid turnaround of copper prices thus looks unlikely in our view, and we rather expect the market to consolidate during the summer months," Julius Baer analyst Carsten Menke tells Bloomberg.

The short-covering momentum on copper contracts appears to have largely passed but fund managers are maintaining their bullish convictions on both U.S. and London markets, Reuters reported.

The surge of money into copper is part of a broader rotation of funds into the base metals sector, but copper has led the way, peaking at $11,404.50/ton in London.