Copper Prices Surge to New Heights Amid US Tariff Speculation

Copper prices on the London Metal Exchange (LME) have reached an all-time high following weeks of speculation about US President Donald Trump's potential extension of tariffs to refined metal imports.

The benchmark three-month futures rose by as much as 0.8% to $14,533 per ton before paring some gains, surpassing the previous record set in January.

This surge can be attributed to a long-term supply-demand imbalance, with aging mines struggling to meet demand from data centers, renewable energy sources, and power grids, contributing to copper's 17% rise this year and a staggering 47% increase in the last 12 months.