Copper Hits Record High as US Tariff Fears Drive Traders

Copper has reached an all-time high on the London Metal Exchange, surpassing $14,527.50 set in January, as traders take advantage of expected US tariffs on refined metal.

The benchmark three-month copper futures rose by as much as 0.8 per cent to $14,533 a metric tonne, with the metal up about 17 per cent this year and 47 per cent over the past 12 months.

This surge has been driven more by tariff-related flows than a sudden increase in end-user demand, according to market trends.

The US Commerce Department's decision on tariffs is still pending, with no final announcement made despite the June 30 deadline.