Copper Price Hike: After the prices of gold, silver and crude oil, now a huge jump is being seen in the prices of copper too. The price of copper on the London Metal Exchange (LME) has reached a record high. The reason for this is the fear of America imposing tariffs on refined copper, due to which traders have started sending copper supplies to America and the availability in other markets has reduced.
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Copper prices in three-month futures on the LME rose 0.8 percent to a new all-time high of $14,533 a metric tonne, above the high of $14,527.50 a metric tonne recorded in January. The price of copper has increased by about 17 percent so far this year and by about 47 percent in the last 12 months.
The biggest reason behind the increase in copper prices is supply concerns. Production in many major copper mines of the world has been affected. Global copper-mine production declined by about 1.1 percent in the first half of 2026, while copper concentrate production declined by 2.6 percent.
Production problems in major producing countries like Chile, Indonesia and Congo have increased concerns about supply in the market. It takes many years to develop new copper mines, so it is not easy to meet the suddenly increased demand.
AI and data center increased demand
Copper's current rally is not just a story of supply. Rapidly increasing investment in sectors like AI, data centres, electric vehicles, power grid and renewable energy is strengthening the demand for copper. AI data centers require huge amounts of power and robust electrical infrastructure. Copper is used extensively in electrical wires, grids, transformers and electrical systems.