Copper Hits Record High of $14,802.5 a Ton
JH Kim
Summary
- A global supply shortage pushed copper prices to a record $14,802.5 a ton.
- LME copper prices have risen about 25% since March as supplies tightened outside the U.S. and large volumes flowed into the U.S. ahead of possible U.S. tariffs.
- Some market experts said copper prices could reach $15,000 a ton, while oil prices above $100 a barrel were cited as a risk to global demand.
Copper prices climbed to a record high of $14,802.5 a ton as a global supply shortage persisted.
The London Metal Exchange said on Sept. 9 that copper prices rose as supplies tightened outside the U.S. Supply pressure drove the advance despite concerns over tensions in the Middle East and a slowdown in global growth.
LME copper prices have gained about 25% since March. Large volumes of copper have also flowed into the U.S. ahead of possible U.S. tariffs, tightening supplies in other regions.
Some market experts said copper could soon reach $15,000 a ton. Oil prices above $100 a barrel, however, were cited as a key risk that could curb global demand.
JH Kim
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