Copper Prices Soar to Record High Amid Supply Concerns
Copper prices have reached an all-time high of US$14,635 per tonne on the London Metal Exchange (LME), extending its rally to four consecutive sessions.
The industrial metal's price surge is driven by concerns over near-term supply and the prospect of US tariffs, which are adding momentum to the market.
According to preliminary figures from the International Copper Study Group, global copper mine production fell 1.1% in the first half of 2026, putting it at risk of recording its first annual decline since 2017 unless output recovers during the second half.
BHP Group projects that demand will grow significantly, driven by electrification, renewable energy, and data centres, with demand expected to increase from about 34 million tonnes per annum in 2026 to over 50Mt per annum by mid-century.