Copper prices climbed to a new all-time high today, surpassing the previous record set earlier this year. The rally is being driven mainly by concerns about shortages outside the United States, a weaker dollar, and strong demand linked to the energy transition, artificial intelligence, and rising defense spending.
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Copper Breaks Its Previous Price Record
The price of the three-month copper contract on the London Metal Exchange rose to a record $14,533 per tonne, equivalent to more than CZK 300,000. It surpassed the previous record of $14,527.50 reached in January.
Copper shipments to the United States remain elevated after U.S. President Donald Trump suggested last February that tariffs could be imposed on imports of the metal. This led to rising copper inventories in the U.S. while fueling concerns about shortages in other parts of the world.
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Tariff Uncertainty Keeps Prices Elevated
“It is difficult to say what will happen with tariffs. But the longer the uncertainty continues, the longer prices are likely to stay elevated because copper keeps flowing into the U.S.,” said Albert Mackenzie, an analyst at Benchmark Mineral Intelligence.
Copper is known for its high conductivity and resistance to corrosion. It is widely used in electrical cables, electronics, construction, and pipeline manufacturing. Thanks to its importance for infrastructure, energy, artificial intelligence, and modern technologies, copper is considered a strategic commodity and one of the key industrial metals.
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Source: ČTK
