Copper Hits All-time High

Copper increased to an all-time high of 6.83 USD/Lbs. Over the past 4 weeks, Copper gained 3.21%, and in the last 12 months, it increased 48.7%.

Copper futures rose above $6.70 per pound on Tuesday, marking a sixth straight session of gains as supply concerns continued to support prices. Sprott Asset Management said global mined copper output could decline this year for the first time since 2017, despite record prices, due to production disruptions, lower ore grades and weak Chilean output. Global mine production fell 1.1% year over year in the first half of 2026, while disruptions at major mines in Indonesia and the Democratic Republic of Congo cut an estimated 600,000 tonnes from expected annual output. At the same time, demand remains strong from power grids, AI data centers and defense. Traders are also watching US copper tariff plans, with the Commerce Department proposing duties of 15% from January 2027 and 30% from 2028, pending a presidential decision.

Copper futures climbed to around $6.65 per pound on Monday, extending gains for a fifth consecutive session, supported by signs of stronger demand and expectations of tighter global supply. The Yangshan premium, a key gauge of Chinese copper demand, rose to $121 a ton last week, reaching its highest level since November 2022. Copper also benefited from expectations of sustained long-term consumption driven by data centers and renewable energy projects. On the supply side, major producers including Chile, Indonesia and the Democratic Republic of Congo continued to face disruptions at several key mines due to operational issues, fatal accidents and severe storms, among other factors. Meanwhile, traders are closely watching US copper tariff policy and its potential effects on global trade flows.