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Copper hits record high above $14,530 a ton on US demand, Chile supply
Commerzbank links the move to strong US demand plus delays in planned copper import tariffs, while Chilean exports fell to $4.62 billion in August, the lowest since July 2025.
Copper futures have pushed to a record level above USD 14,530 per ton, with Commerzbank highlighting a mix of demand support from the United States and supply disruptions in Chile.
In FXStreet’s summary of Commerzbank’s view, the bank points to strong US buying, noting COMEX inventories have risen recently as plans for copper import tariffs were expected by the end of June but have not yet been rolled out.
Additional price support is tied to Chile, the world’s largest copper producer, where weather-related operational problems and port issues have reduced exports, with Chilean copper exports falling to USD 4.62 billion in August, the lowest since July 2025.
With Chile accounting for about a quarter of global mine output, lower exports are described as helping sustain the elevated copper price level.
Latest closeCopper $6.606 ▲1.5%