Copper Surges to Record High on US Tariff Fears

Copper prices surged to an all-time high of $14,617 per tonne on Tuesday, as concerns over potential US tariffs sparked a rush to stockpile the metal.

The three-month copper contract on the London Metal Exchange set a new record, surpassing Monday's previous high. Copper is often seen as a barometer of global economic activity due to its widespread use in construction, manufacturing, and infrastructure projects.

However, this latest rally is also being driven by unusually strong demand from the US, where buyers are reportedly building stocks ahead of possible new tariffs on copper imports under President Donald Trump. The prospect of tariffs has created an incentive to move metal into the US before any additional duties are imposed, tightening supplies elsewhere and pushing international prices higher.