Copper Climbs Near 5-Month High

2025-12-22 08:41 By Erika Ordonez 1 min. read

Copper futures rose toward $5.5 per pound, its highest level in nearly five months, as structurally tight supply conditions and optimism around long-term infrastructure demand continued to support prices.

Prices on the LME are on track for their strongest annual gain since 2009, supported by persistent mine disruptions and historically low treatment and refining charges, underscoring stress in the copper concentrate market.

Supply concerns intensified after Chilean miner Antofagasta and a Chinese smelter agreed on zero processing fees for 2026, the lowest level ever recorded in annual talks.

Outages at major mines and limited new project development further constrained supply.

Meanwhile, copper continued to draw support from its growing role in power grids, data centers, and cooling infrastructure tied to AI investment, while expectations of potential US tariffs encouraged pre-emptive stockpiling, tightening availability.



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