COPPER TO HIT NEW HIGHS - SUPPLY DEFICITCopper climbed as much as 0.9% to $8,406 a ton on the London Metal Exchange, the highest level since 2012, before paring gains to close at $8,394 a ton. Tin paced gains in most metals, closing 3.1% higher after an unprecedented spike in spot contracts. Production guidance from the top 25 copper producers indicates the market may be in a sizable deficit this year, “assuming our scenario of 5% demand growth is in the ballpark,” according to Bloomberg Intelligence analysts Grant Sporre and Andrew Cosgrove.