Tight Supply and AI Boom Keep Copper Price Near Record Highs
Copper prices have been buoyed by tight mine supply and increasing investment in AI infrastructure and power grids, keeping the metal above $6 and potentially on track to reach $7.
The price of copper (XCU) has consolidated near record highs after regaining $6.60 on Tuesday, supported by strong demand from these sectors.
NVIDIA's planned $500 billion financing could further strengthen long-term demand for copper, but weak Chinese demand and project delays pose risks to this trend.