Copper Prices Surge to Record Highs Above $12,000/Ton

Copper prices continued their strong upward trajectory, surpassing $12,000 per ton for the first time, fueled by growing concerns about a tightening global supply in 2026. The surge in copper, a key metal for the energy transition, reflects broader anxieties about resource availability as demand for green technologies increases.

All six base metals listed on the London Metal Exchange are on track to post annual gains, marking a year characterized by multiple pressures on the supply side. Despite these gains, the price increases have persisted even amid indications of slowing industrial demand, according to reports.

With only a few trading days remaining in the year on the London Metal Exchange, copper is poised to achieve its largest annual increase since 2009. The metal has experienced significant gains in recent months, driven in part by anticipatory buying.

A major factor driving the price surge is a rush to ship large quantities of copper to the United States, as companies attempt to preempt potential tariffs on imports. This influx threatens to leave the rest of the global market facing supply shortages.

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