Copper Prices Soar on Tight Supply, US Tariff Risks

Copper prices have reached record highs, driven by tight supply and tariff risks in the US. The metal has seen five consecutive sessions of gains, but profit-taking is becoming increasingly likely.

The rally is being fueled by concerns over potential US tariffs on refined copper, which are redirecting metal toward the US and reducing available supply in other markets.

Mine supply also remains constrained, with global copper mine production falling 1.1% in the first half of the year and concentrate output declining 2.6%, according to International Copper Study Group data.