Copper Hits Record $6.6/lb on LME; IEA Sees Sustained Demand, Chile Budget Caution

Copper closed near $6.6/lb on the LME, a historic high, with the IEA projecting elevated prices for five years on strong demand. Chilean experts urge fiscal caution ahead of the 2027 budget, signaling potential revenue windfall but spending restraint. The price surge reflects supply-demand tightness, though sustainability is uncertain.