Copper Nears Record as US-China Optimism Adds to Supply Woes

Copper advanced toward a record as optimism over an imminent US-China trade deal added steam to a rally driven by a slew of disruptions at some of the world’s biggest mines.

Signs the world’s top two economies are set to reach an accord this week improve the outlook for consumption of the industrial metal at a time of heightened concerns over production setbacks from South America to Indonesia.

Prices on the London Metal Exchange rose as much as 1.2% to $11,094 a ton, roughly $10 shy of a record reached in May 2024, before paring some of the gains.

Copper ...