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Copper Prices Soar to Record High Amid Supply Crunch

12/22/2025

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Summary

Story summary

Copper prices reached a record high near $12,000 per ton, driven by trade issues, tight supply, and record-low smelter processing fees.
The metal has surged nearly 40% this year, its largest gain since 2009.
A rush of copper to the United States ahead of possible tariffs worsened global supply concerns.
Unplanned mine outages and rising demand for AI infrastructure have fueled the rise.
Analysts expect $13,000 per ton in 2026.

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Story summary

Copper prices reached a record high near $12,000 per ton, driven by trade issues, tight supply, and record-low smelter processing fees.
The metal has surged nearly 40% this year, its largest gain since 2009.
A rush of copper to the United States ahead of possible tariffs worsened global supply concerns.
Unplanned mine outages and rising demand for AI infrastructure have fueled the rise.
Analysts expect $13,000 per ton in 2026.