Copper Prices Test Records Again Amid Tight Supply Battle

SEATTLE (Scrap Monster): London copper prices approached record levels once again on Wednesday, with three-month futures on the London Metal Exchange (LME) closing at $11,556.50 per metric ton. This marks the second attempt this week to climb higher, after copper previously hit an all-time peak of $11,771 per ton. The market is seesawing between setting new records and facing pullbacks, highlighting intense battles between bullish and bearish forces.

The latest price surge is directly driven by renewed supply shortage alarms. On one hand, production disruptions at major global mines are frequent. On the other, long-term demand expectations—fueled by the green transition and AI infrastructure buildup—remain unshakable. However, the rally has not been smooth. As the world’s top consumer, China’s ongoing decline in producer prices recently sparked concerns over short-term demand, causing copper to retreat more than 1% from its peak. Macro uncertainties, such as U.S. interest rate policy, have also amplified short-term volatility.

Courtesy: www.nai500.com