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Copper Prices Surge to Record Highs Amid Supply Crunch

12/24/2025

47 9 Full Breakdown

Summary

Story summary

Copper prices rose to record highs above $12,000 per ton on the London Metal Exchange, driven by supply disruptions and demand.
Prices have risen about 37% this year, the largest gain since 2009.
Mine outages and strategic stockpiling in anticipation of U.S. tariffs under President Donald Trump contributed to the rally.
Analysts expect demand to outstrip supply and forecast further price increases, potentially to $13,000 per ton in 2026.

History

Historical Context

The global financial crisis in 2009 caused copper prices to plummet to around $3,000 per ton, significantly impacting mining operations, particularly in the Democratic Republic of the Congo. In 2023, prices surged to record highs above $12,000 per ton due to supply disruptions and strategic stockpiling, reflecting ongoing volatility in the copper market driven by fluctuating demand and geopolitical factors.

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Story summary

Copper prices rose to record highs above $12,000 per ton on the London Metal Exchange, driven by supply disruptions and demand.
Prices have risen about 37% this year, the largest gain since 2009.
Mine outages and strategic stockpiling in anticipation of U.S. tariffs under President Donald Trump contributed to the rally.
Analysts expect demand to outstrip supply and forecast further price increases, potentially to $13,000 per ton in 2026.

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