Copper Prices Hit Record on Supply and Tariff Fears

Copper prices hit record levels as supply risks and trade uncertainty drive strong buying.
The London Metal Exchange recorded fresh all-time highs during early trading.
As a result, copper continues its powerful rally into 2026.

Three-month copper on the LME climbed to $13,225 per tonne.
Earlier, prices peaked at $13,387.50 during open outcry trading.
Meanwhile, copper has gained 6.6% so far this year.

Nickel also strengthened alongside copper.
Nickel prices rose above $18,000 per tonne on Indonesian supply curbs.
Base metals now reflect tightening fundamentals across several markets.

Copper Prices Hit Record as Supply Disruptions Intensify

Supply disruptions remain the primary driver behind the copper rally.
Capstone Copper faces a strike at the Mantoverde mine in northern Chile.
The dispute has raised concerns over near-term copper concentrate supply.

Chinese producer Tongling Nonferrous also reported delays in Ecuador.
The company faces challenges at its Mirador mine expansion project.
Consequently, traders now factor higher disruption risk into prices.

Benchmark Minerals highlights long-term underinvestment across the copper sector.
Analysts expect artificial intelligence and electrification to lift future demand.
Therefore, supply risks now carry greater market impact.

Tariff Uncertainty Adds Momentum to Copper Prices Hit Record Rally

US trade rhetoric continues to disrupt global copper flows.
Traders redirected material toward the United States amid tariff speculation.
As a result, supply tightened across Europe and Asia.

Copper posted its largest annual dollar gain in over a decade during 2025.
Prices surged sharply in December and broke key resistance levels.
Momentum has since carried prices well above $13,000.

However, some traders question the rally’s pace.
Speculative inflows now drive part of the price action.
Still, structural demand trends continue to support elevated prices.

SuperMetalPrice Commentary:

Copper prices hit record levels because supply risks meet strategic demand growth.
Energy transition investments and AI infrastructure will sustain copper intensity.
Meanwhile, tariff risks may amplify regional shortages.
SuperMetalPrice expects volatility but sees strong long-term price support.