Commodities
Home›Commodities›Industrial Metals›Copper hits record highs above $14,500 as tariffs tigh…
Copper hits record highs above $14,500 as tariffs tighten supply
LME three-month copper futures rose nearly 1% to $14,533 a ton, helped by tariff expectations that pulled record seaborne volumes into US warehouses while global mining conditions worsen.
Copper futures in London reached a record high on Tuesday above $14,500 a ton as expectations of US tariffs drove record seaborne volumes into US warehouses, tightening availability in other regions despite subdued demand, according to OilPrice.
Benchmark three-month futures on the LME gained nearly 1% to $14,533 a ton, after exceeding January’s peak, though the article notes some gains were later trimmed.
The piece links the move to deteriorating conditions across global mining operations that are adding to supply woes, arguing that copper scarcity is increasingly about the location of metal rather than only the total amount available.
Copper has climbed 17% this year and 47% over the past 12 months, the article says, citing Bloomberg data, and it highlights the metal’s importance for AI and power grid buildouts.
Latest closeCopper $6.606 ▲1.5%