Comex Copper Prices Soar Amid Global Supply Crunch

Copper prices on the Comex have hit a fresh record, driven by concerns over global supplies and uncertainty surrounding potential US tariffs.

The most-traded September contract rose to an intraday high of $6.714 per pound, equivalent to about $14,800 a tonne, before paring gains.

Tightening supply chains have been a major factor in the metal's price surge, with Chile's copper production expected to fall 2.6% year-on-year and global mine output forecasted to grow by just 0.2% this year.