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LME copper spreads surge to premium on short covering

ByVictoria

The spread between the cash LME copper contract and benchmark three-month futures spiked to a premium for the first time in 19 months on Friday.

It rocketed to $249 a metric ton, the highest since November 2021, compared to a discount, or contango, of $119 two days ago.

Copper prices on COMEX have surged as investors seek to price in potential tariffs, with the premium of COMEX over LME at $1,050 a ton on Friday, down from a record peak of $1,153 a day earlier.

Source – Mining.com

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    Copper, yet to be included in Donald Trump’s widening list of tariff-hit products, continues to rally on the assumption that it is just a matter of time, Saxo Bank said in a note, as it sees a sooner-than-expected tightening of the global market.

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    The United States Mint establishes pricing on numismatic gold coins via its pricing grid, and updates were published July 1 in the Federal Register.

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    Silver prices rise, how high will it go?

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    “Silver is showing signs of relatively higher momentum with the price trying to breach the crucial US$ 33 level,” Emkay said

    Given silver’s diverse industrial applications, its price is projected to rise from its current level, reaching $36.60, $38.70, and $39.30 on COMEX, it said.

    “Investing in silver funds with a 12 to 18 months’ time horizon is likely to be a worthy proposition.”

    The gold-silver ratio is currently around 90, which suggests that silver is currently undervalued.

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