Copper Prices Edge Up Amid Tight Supply and Trade Flows
LME copper prices remain near record highs as supply tightens.
The London Metal Exchange (LME) copper price edged up marginally to $14,170/t in the week ended August 21, 2026, staying near its record high. The market remains influenced by global supply disruptions, trade flows, and easing expectations for US interest-rate hikes.
Tightening mine supply is a major concern for the copper market, with production disruptions in Indonesia, Chile, and the Democratic Republic of Congo (DRC) limiting concentrate availability. Treatment and refining charges are also under pressure due to competition among smelters for feedstock.
The US trade policy continues to shape global inventory distribution, with material flowing into the country amid expectations of tariffs and stronger COMEX premiums. This has reduced available stocks in some regions and increased volatility in LME spreads.