Copper Futures Hit Record $6.8 per Pound Amid Supply Concerns

Copper futures have reached a record high of $6.8 per pound due to supply concerns and strong demand, according to Trading Economics.

The rise in prices is attributed to worldwide mined copper output, which could fall this year for the first time since 2017, citing supply interruptions, deteriorating ore grades and soft production from Chile.

Problems at large mines in Indonesia and the Democratic Republic of Congo have cut projected annual production by roughly 600,000 tons.