Mercuria Energy Group Ltd. has ordered about $500 million of copper for withdrawal from warehouses overseen by the London Metal Exchange, as the trading house positions itself for a global supply crunch fueled by possible US tariffs.
The firm was the key party involved in requests to withdraw about 50,000 tons of copper from LME depots on Wednesday, according to people familiar with the matter, who asked not to be identified discussing private trading activity. The cancelation of stock was the biggest seen in more than a decade, and it helped drive prices towards record highs above $11,500 on the ...
