LME copper hits record $14,533 a ton as Trump tariff expectations and tight supply bite
AI Market Summary
Copper hit a record on the LME as traders front-load shipments into the US amid expectations of expanded Trump tariffs on refined copper, draining LME inventories outside the US and tightening near-term availability. Backwardation and pressure on short positions signal a market squeeze despite relatively high global stockpiles. Major miners reported stronger profits, reinforcing the supply-constrained narrative even as macro headwinds persist.
Impact level
● High
Affected assets
NCCO724COPPER2USD/USDT+0.00%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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Copper on the London Metal Exchange surged to a record $14,533 a ton, up 17% so far this year. Traders have been rushing shipments into the U.S. for months on expectations President Donald Trump could impose tariffs on imported refined copper. That flow has pushed LME inventories outside the U.S. down to the lowest since June last year, tightening global supply further. Recent earnings reports from major copper miners also showed sharp profit gains.
