Copper Surges to Record High Amid AI Demand and Middle East Tensions

Copper prices have reached a new record high of $6.73 per pound due to strong demand and supply-side issues, according to Anadolu Ajansı.

The base metal has gained more than 18% this year amid accelerating global investments in data centers, energy infrastructure, and power transmission systems.

Expectations of stronger industrial production activity have driven up copper prices, while supply constraints exacerbated by Middle East tensions have contributed to the rise.

Slowing US inflation and rising concerns over the country's economic growth have eased hawkish expectations for the Fed's future monetary policy decisions, providing upward support for commodity prices.