Copper Piles Up in America While the World Runs Short

Copper Section 232 tariffs are still undecided, and the guessing has pulled more than 1.2 million tonnes of metal into U.S. warehouses. Natalie Scott-Gray, StoneX Senior Metals Analyst EMEA & Asia, breaks down the three forces behind copper's move to record highs. Global stock levels hit a record at the end of the first quarter, with more than two thirds of metal held in U.S. warehouses and available material elsewhere at historical lows. The International Copper Study Group reported mine supply down 1.1% in its first half report, raising the prospect of a rare outright decline in production this year. Copper's correlation with U.S. technology stocks has also reached its highest level since 2012. Discover Actionable Metals Insights with StoneX Market Intelligence: https://shop.stonex.com/products/stonex-essential-bundle?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_natalie_scott_gray&utm_content=share 00:00 - Copper Breaks to Record Highs 00:33 - Tariff Limbo Pulls Metal In 01:07 - U.S. Sheds Full, World Empty 01:51 - Mine Supply Slips Once More 02:32 - Hedge Funds Crowd the Trade 05:03 - Crowded Longs, Weaker China Like and subscribe for more financial market insights. #Copper #LME #StoneX #NatalieScottGray --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social