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Commodities

Global Copper Demand Sparks Record Prices

Guavy AI Editorial Team
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Copper
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Copper prices have been rising due to tight supply and strong global demand. The London Metal Exchange (LME) copper price is currently at $14,350/tonne.

The high demand for copper comes from industries such as data centers and power grids. Data centers require a lot of copper wiring to process and store large amounts of data. Power grids also rely heavily on copper for their infrastructure.

The supply of copper is being constrained by falling inventories, mine disruptions, and a smelter crisis. This combination of factors has led to the high prices seen in recent times.

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