What Does Anthropic’s IPO Filing Have to Do With the Copper Price?

Copper climbed back above its April support trendline on Tuesday, erasing the previous week’s breakdown, with three-month metal on the London Metal Exchange rising 1.1% to $14,487.50 a tonne, its highest since Oct. 16. The rebound followed Anthropic’s publication of its IPO filing on Monday, which lifted AI stocks, with the Nasdaq up 0.8% and Nvidia 2.4%; the filing listed about $587 billion in compute and lease obligations tied to data-center demand for copper. Copper remained about 3.5% below its September record, and rising U.S. stockpiles could limit further gains, while China’s Yangshan premium reached $188 a tonne amid tight supply outside the U.S.