US Tariffs Send Copper Prices Soaring to Record High

Copper prices have surged to an all-time high on the London Metal Exchange (LME), driven by concerns over potential US tariffs and a tightening supply crunch.

The benchmark three-month copper futures price closed at $14,510 per tonne on Monday, after reaching a record high of $14,533 earlier in the session. This surpasses the previous record set in January.

Analysts at China Asset Management attribute the rally to expectations that the US will expand tariffs to refined copper imports starting next year. This has prompted American buyers to stockpile before restrictions take effect, triggering a scramble for copper.

The market expects prices to remain elevated in the short term due to supply constraints and arbitrage opportunities created by price differentials between New York and London contracts.