Copper Prices Soar to Record High Amid Tight Supplies and Tariff Fears

Copper prices have reached new heights on the London Metal Exchange, touching an all-time peak of $14,617 a ton for the second consecutive session. This surge marks a fourth straight day of gains and follows copper's rally of around 17% this year.

The driving forces behind these price increases are twofold: tight near-term supplies and concerns over potential tariffs on refined metal imports by the US. The long-term mismatch between constrained mine supply and growing demand for copper in sectors such as data centers, renewable energy equipment, and power grids has also contributed to its upward trajectory.