Copper Price Set for Record Break as Tariff Uncertainty Reigns

Copper prices are on the rise, with analysts predicting they could break through $15,000 for the first time as soon as this week.

The price of copper on the London Metal Exchange (LME) hit an all-time peak of $14,779 per metric ton, climbing for a fourth straight session. Analyst Tom Price from Panmure Liberum said, 'Will it get to $15,000 this week on Trump's tariff confusion? Sure, that's possible.'

The uncertainty surrounding US import tariffs has led to a surge in copper imports into the country, with large volumes flowing into COMEX-approved warehouses. This has depleted inventories on the LME and in top metals consumer China.

However, not everyone is bullish on copper. A stronger US dollar could make dollar-denominated metals more expensive for investors using other currencies, potentially leading to profit-taking.