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METALS-Copper keeps pushing towards January record high, aluminium gains
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METALS-Copper keeps pushing towards January record high, aluminium gains
May 13, 2026 4:20 AM

(Updates prices, adds analyst comment, changes dateline to

London)

By Polina Devitt

LONDON, May 13 (Reuters) - Copper prices rose for an

eighth session on Wednesday, reaching highest since January 29,

due to the bullish technical signals and outperforming prices in

the U.S., while aluminium hit its highest in almost four weeks.

Benchmark three-month copper on the London Metal

Exchange gained 0.9% to $14,152.50 a metric ton by 1019 GMT,

after posting a record close on Tuesday.

The LME's index of six base metals contracts closed

at a record high on Tuesday with copper steadily pushing closer

to its intraday record high of $14,527.50 hit on January 29 and

strong prices for the entire complex.

Copper is supported by bets on future demand growth, recent

strong factory activity data easing concerns about any immediate

effect on global economies from the Middle East conflict and

worries about availability of sulphuric acid for some copper

producers due to the closure of the Strait of Hormuz.

The Yangshan copper premium , a gauge of

China's appetite for importing copper, rose 3% to $72 a ton,

highest since mid-April, suggesting strong demand in the top

metals consumer despite rising prices.

In the U.S., the most active COMEX July copper futures

gained 1.7% to $6.644 a lb with touching a record

high.

Copper in the U.S. is trading at a premium of about $500 a

ton over LME copper with Washington expected to decide by

end-June whether to impose import tariffs on refined copper.

"The anticipation of policy action is drawing metal into the

United States and tightening availability elsewhere, adding

another layer of support to the global market," Neil Welsh, head

of metals at broker Britannia Global Markets, said in a note.

LME aluminium rose 2.3% to $3,641.50 a ton after hitting

highest since April 17 as the Iran war disrupted supply from

producers in the Middle East.

Providing further support, daily LME data showed that

on-warrant aluminium stocks in the LME-registered warehouses

fell to 301,725 tons after 30,000 fresh cancellations in

Malaysia.

Zinc rose 0.2% to $3,538, lead was last up

0.6% at $2,008.50, tin gained 1.6% to $55,560 and nickel

added 1.3% to $19,190. Both zinc and lead hit highest

since late January.

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