Copper Prices Soar to Record High on Tight Supply and Tariff Fears

Copper prices have reached an all-time high of $14,533 per ton, according to the London Metal Exchange. This surge is largely driven by increasing demand from data centers, renewable energy, and power grids, as well as tight mine supply.

The growth in copper prices has been significant, with a 17% increase over the past year. One contributing factor is the potential for U.S. tariffs on refined copper imports, which could further reduce global supply.

Large shipments of copper to the U.S. ahead of possible tariffs have also reduced available supply in other regions, putting upward pressure on prices.