Copper Hovers Near Record High

2026-06-03 06:46 By Judith Sib-at 1 min. read

Copper futures fell below $6.6 per pound on Wednesday but remained close to the record high reached in the previous session amid uncertainty over a US tariff on the metal and tightening supply elsewhere.

President Donald Trump earlier this week signed a proclamation adjusting tariffs on selected metal imports, but it left unresolved the broader copper tariff issue.

Meanwhile, Chile, the world’s largest copper producer, reported its weakest April output in 23 years, heightening concerns over constrained global availability.

Demand prospects also remain supportive amid optimism around the expansion of artificial intelligence technologies and rapid data center buildouts.

In addition, the ongoing transition toward cleaner energy systems is increasing demand from global power grid upgrades, reinforcing a generally bullish long-term outlook for the metal.



News Stream
Copper Hovers Near Record High
Copper futures fell below $6.6 per pound on Wednesday but remained close to the record high reached in the previous session amid uncertainty over a US tariff on the metal and tightening supply elsewhere. President Donald Trump earlier this week signed a proclamation adjusting tariffs on selected metal imports, but it left unresolved the broader copper tariff issue. Meanwhile, Chile, the world’s largest copper producer, reported its weakest April output in 23 years, heightening concerns over constrained global availability. Demand prospects also remain supportive amid optimism around the expansion of artificial intelligence technologies and rapid data center buildouts. In addition, the ongoing transition toward cleaner energy systems is increasing demand from global power grid upgrades, reinforcing a generally bullish long-term outlook for the metal.
2026-06-03
Copper Hits All-time High
Copper increased to an all-time high of 6.65 USD/Lbs. Over the past 4 weeks, Copper gained 14.75%, and in the last 12 months, it increased 37.52%.
2026-06-02
Copper Holds Firm After US Tariff Move
Copper futures remained above $6.5 per pound on Tuesday, hovering near over two-week highs after President Donald Trump signed a proclamation adjusting certain metals tariffs to better address national security concerns. The move has widened the US copper premium, potentially encouraging fresh inflows of the metal into US ports just as global supply constraints intensify. Chile, the world’s largest copper producer, reported its weakest April output in 23 years, underscoring mounting concerns over tight global supply. On the demand side, optimism around the expansion of artificial intelligence technologies and rapid data center buildouts supported the metal’s outlook. Rising copper usage in global power grids, driven by the ongoing shift toward cleaner energy systems, further reinforced the bullish demand narrative.
2026-06-02