Copper Surges Past $6.7 per Pound Amid Global Supply Fears

Copper futures have reached fresh record highs, surpassing $6.7 per pound on Friday as supply risks mount globally.

The Democratic Republic of Congo has banned exports of copper concentrates, a move that reflects a growing trend among resource-rich nations to retain more value by expanding domestic refining and processing capacity.

Concerns over potential US import tariffs on copper have also led to supplies being diverted from international markets into US warehouses.

Additionally, operations at part of Codelco's flagship El Teniente mine could remain suspended for up to two years, exacerbating supply concerns.