Copper price rebounds as global energy crisis keeps roiling the market

Power shortages are forcing output cuts from China to Europe

Most base metals rose, with copper trimming a weekly slump, as the sector continues to be roiled by the global energy crisis.

The energy crunch, fueled by record coal and gas costs, has forced metal output cuts from China to Europe, depleting inventories. Copper mining giant Freeport-McMoRan Inc. reported lower-than-expected third-quarter production from its sites in the Americas, adding to concerns over a tight market that’s fueled a historic squeeze and seen prices near record levels recently.
 

Yet the surge in prices is also raising concerns about the sustainability of the the global recovery, putting pressure on manufacturing margins and supply.