Copper prices on Tuesday (September 8) hit a new record of $14,694 per ton during trading on the London Metal Exchange (LME), closing at $14,673, up 1.5% for the day. Morgan Stanley has lowered its forecast for global copper mine supply growth to flat or even slightly negative. If this materializes, it would mark the first annual decline in global copper mine output since 2017. Chile has lowered its full-year production outlook for the second consecutive quarter, now expecting a 2.6% decrease in annual output.