Copper Prices Soar to Record High Amid Growing Industrial Demand
Copper prices have reached an all-time high on global trading platforms, marking a significant shift in commodity priorities. According to Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), copper has become a primary hedge asset and is being referred to as 'the new gold.'
The price surge is expected to redistribute investment flows and increase production costs for electronics and power equipment. This shift reflects a structural change in global industry where industrial materials essential for infrastructure and high-tech sectors are gaining ground over traditional gold.
Macroeconomist Artem Loginov notes that investors now view industrial metals as tools for capital preservation because copper is backed by actual, growing industrial demand driven by power grid modernization and digitalization. Copper futures for December 2026 reached a record $6.9275 per pound during the evening session on the Comex exchange, jumping 2.44%.