Copper Prices Soar on AI Boom and Tariff Uncertainty

Copper prices have reached record highs due to the impact of the AI boom and uncertainty surrounding tariffs.

The surge in demand for copper, a key material in the production of electric vehicles (EVs) and renewable energy infrastructure, has driven up prices. Copper is used extensively in EV batteries, wiring, and other components, making it an essential material in the transition to clean energy.

According to various reports, the price of copper has exceeded $10,000 per tonne for the first time ever. This increase is attributed to a combination of factors, including the growing demand for EVs and renewable energy systems, as well as concerns over global supply chains due to ongoing trade tensions.