Copper Prices Surge Amid Tight Supply and Strong Demand
Copper prices have been steadily increasing due to tight physical supply and strong demand. The London Metal Exchange (LME) three-month copper contract has strengthened, with sustained inflows of metal into the United States reducing availability in other regions.
The U.S. has received large volumes of refined copper this year as traders positioned ahead of a potential decision on refined copper import tariffs. Meanwhile, China's increased buying activity has intensified competition for available material, further tightening the physical market.
Copper prices have gained approximately 14% since the beginning of 2026, building on three consecutive years of annual gains. The market is being supported by long-term demand from power infrastructure, renewable energy, electric vehicles, and artificial intelligence-related data centers.