LME Copper Prices Soar to $14,000 Amid US Stockpile Surge

Copper prices have surged to $14,000 per metric ton on the London Metal Exchange (LME), marking their strongest point in two months. The rally comes as market participants track swelling stockpiles in the United States, which has tightened supply for international buyers.

The influx of copper into U.S. ports was the heaviest monthly inflow recorded by IHS Markit shipping data since 2014, with over 200,000 tons landing in July alone. American prices continue to command a premium over LME quotes, sustaining the profitability of such shipments.

Copper inventories across the LME's storage network have fallen to a five-month trough, with dealers pointing to cargoes redirected to China to address a supply deficit there. The metal has gained roughly 12% since the start of 2026, following a record peak in January.