Copper Prices Soar to Record High Amid US Tariff Expectations
Copper prices have reached an all-time high on the London Metal Exchange (LME) due to expectations of wider US tariffs on refined metal. Traders are moving supplies into the United States, tightening availability elsewhere.
The benchmark three-month copper futures rose by as much as 0.8 percent to $14,533 a metric tonne, surpassing the previous record of $14,527.50 set in January. Copper is up about 17 percent this year and has surged 47 percent over the past 12 months.
The rally reflects a longer-term mismatch between supply and demand, with ageing mines struggling to keep pace with consumption from data centres, renewable energy projects, and power grids. However, the latest surge has been driven more by tariff-related flows than a sudden increase in end-user demand.