Copper climbed back to within half a cent of its record high on Tuesday as an outage at the smelter that processes ore from the giant Grasberg mine compounded a supply squeeze that has held London benchmark prices above $14,000 a tonne for an unprecedented run of sessions, while aluminum jumped to a seven-week high after a Brazilian alumina plant halved output. LME warehouse stocks fell another 4,675 tonnes on Monday to 218,300 tonnes. Freeport’s own Manyar smelter in East Java is due to resume production in September, with the two plants together expected to turn out close to 400,000 tonnes of cathode this year, while the Grasberg mine is still recovering from last September’s fatal mudslide and is not targeted to reach full production until the end of 2027.