Copper Prices Surge Near Record Highs Amid Tight Supply

Copper prices are trading near record highs around $6.70 per pound due to improved demand and supply pressure.

The global copper demand base is broadening, with India and Europe contributing to the increase in consumption.

Tight concentrate supply supports prices, but scrap remains a key market buffer, particularly in China where refined production may be supported by scrap use.

Copper stays bullish above $6.50, with $7.50 as the next upside target, according to current market conditions.