Copper surges to all-time high as tariff turmoil rocks market
Benchmark three-month futures rose as much as 0.8% to $14,533 a ton as traders priced in possible US tariffs and tighter short-term supply.
- Benchmark three-month copper futures hit a record $14,533 a ton on the London Metal Exchange, driven by intense buying and market anticipation of potential import tariffs.
- Market participants continue pricing in potential tariffs on primary copper imports, two months after the Department of Commerce missed its deadline to advise the White House on necessary levies.
- While global stockpiles remain high, they are increasingly concentrated in the US, draining short-term availability on the London Metal Exchange network and pressuring holders of short positions.
- Rising prices have boosted profitability for major producers including Rio Tinto Group, BHP Group, Glencore Plc, and Zijin Mining Group, which have sought increased exposure to the metal.
- The metal's 17% advance over the past year reflects a long-term supply-demand mismatch, as the world's ageing fleet of mines struggles to keep pace with usage from data centers and power grids.
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73 Articles
Copper prices have risen to new record highs in global markets, with attention now focused on potential US tariff decisions and supply conditions. Inventory movements and uncertainties surrounding trade policies are the main factors supporting the rise in the price of this critical industrial metal.
Copper Surges Above $14,500 as Supply Squeeze Deepens
Copper futures in London reached a record high on Tuesday as expectations of US tariffs drew record volumes from the seaborne market into US warehouses, tightening availability elsewhere despite subdued demand. As we highlighted on Monday, deteriorating conditions across global mining operations are adding to supply woes. Benchmark three-month futures on the LME gained nearly 1% to reach $14,533 a ton, exceeding January's peak before trimming so…
Copper prices hit a new all-time high on both the London and American metal exchanges on Tuesday, with three-month futures on the LME rising to $14,749 per tonne, up 18 percent this year. The surge is being driven by a significant drawdown in non-US inventories, falling mining output and a wave of speculative buying over potential US tariffs.
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