LME copper hits record $14,533 a tonne as prices climb 17% over the past year
AI Market Summary
LME copper hit a record $14,533/ton, extending a 17% annual rally driven by prospective US refined-copper tariffs, inventory migration into Comex, and structurally tight supply amid rising electrification demand. Incremental consumption from AI data centers, grid buildouts, renewables, and EVs reinforces a multi-year deficit narrative. The move materially exceeds prior bank forecasts, raising near-term volatility around trade policy and inventory positioning.
Impact level
● High
Affected assets
NCCO724COPPER2USD/USDT+0.00%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Copper on the London Metal Exchange hit a record $14,533 per tonne, taking its gain to 17% over the past year. The move has been driven by expectations of US tariffs on refined copper imports, a buildup of US inventories, and long-term demand growth from data centres, renewables, power grids and electric vehicles. Goldman Sachs had forecast $11,200 per tonne for the fourth quarter of 2026 and Deutsche Bank had expected a $12,125 per tonne average for the year, but prices have risen well beyond those levels.
