Commodities
Copper Prices Surge Amid AI Demand and Supply Disruptions
The copper futures contract has been trading near record-high territory, reaching an intraday high of $6.86 in late July 2026.
This upward momentum is attributed to strong demand for the industrial metal from artificial intelligence (AI) infrastructure development, particularly data centre expansion.
A CNBC analysis suggests that supply constraints are also contributing to the price increase, with production disruptions in Chile due to heavy snowfall, excessive rainfall, and strong winds.
From a technical perspective, the copper contract is trading above its 50-day, 100-day, and 200-day Simple Moving Averages (SMAs), indicating a robust upward trajectory.