Hormuz Strait Closure Drives Copper Prices to Record High

Copper futures have reached an all-time high of $6.7045 per pound due to tariff-driven demand and global supply shocks, according to Nai500.

The surge in buying has been fueled by traders stockpiling physical copper in anticipation of a pending U.S. decision on import tariffs, amplifying near-term demand.

Ongoing disruptions, including the prolonged closure of the Strait of Hormuz and China's suspension of sulphuric acid exports through December, have intensified supply constraints.