Why Copper Fever Is Breaking [Yahoo! Finance]
StoneX Group Inc. (SNEX)
Company Research
Source: Yahoo! Finance
Copper bulls, who have long touted the metal as an energy-transition play , appeared vindicated a month ago. On May 20, spot prices on the London Metal Exchange hit a record of around $11,100 a metric ton in intraday trading, up 29% from the beginning of the year. The commodity's starring role in what might have been the biggest mining deal in history , as industry leader BHP courted its peer Anglo American, only added to a sense that this was copper's moment. Most Read from The Wall Street Journal Boeing Talks to Buy Back Spirit AeroSystems Have Last-Minute Twist How a Texas Factory Is Emerging as a Key Ammo Supplier for the U.S., Ukraine Hedge Funds Made a Killing on FTX—Then It Got Complicated Stephen A. Smith Is the Face of ESPN. How Much Is That Worth? Apple Hit by First Charges Under New European Tech Law But the moment passed: BHP never made a firm offer , and the LME spot price is down more than 14% from its peak. One reason is that the spring run-up in prices
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