Copper Surges to Record High on Tariff Fears and Chilean Supply Disruptions

Copper prices have reached an all-time high on the London Metal Exchange (LME) due to concerns over US tariffs and supply shortages.

The benchmark three-month copper futures closed at $14,510 per metric ton on Monday, surpassing the previous record set in January.

Analysts from China Asset Management note that expectations of US tariffs have prompted buyers to build inventories ahead of the restrictions taking effect, creating a 'scramble' for copper across the Pacific and Atlantic.

Supply disruptions in Chile, where copper production is expected to decline by 2.6% this year, are also supporting higher prices.