Copper Hits Record High of $14,533 a Ton

Copper prices hit a record high on expectations of potential U.S. tariffs on refined copper imports and concerns over tightening supply.

According to Walter Bloomberg on September 7, copper on the London Metal Exchange climbed to as high as $14,533 a ton, setting an all-time high.

Copper prices have risen 17% over the past year. Tight mine supply, along with growing demand from data centers, renewable energy and power grids, has underpinned the advance.

Large shipments to the U.S. ahead of possible tariffs on refined copper imports are also shrinking supply available in other regions, adding further upward pressure to prices.