Copper: Panic over Trump tariffs drives copper close to record high
The price of copper on the LME metal exchange is approaching a record high. The market has been turbulent for more than a week, mainly due to warehouse stocks in London.
The copper price is nearing a record high, driven by uncertainty over US import tariffs and a tight global market. The price of a tonne of copper for delivery in three months on the London Metal Exchange (LME) reached $14,437, close to its January high of $14,527.50. The US is considering introducing tariffs on copper imports, prompting traders to rush shipments to the country, while Chinese smelters are struggling with shortages due to new tax rules and increased demand.
The Democratic Republic of Congo has also halted copper exports, further tightening the market. Analysts expect the market to remain volatile, with UBS forecasting a copper deficit of 219,000 tonnes in 2026 and a price target of $15,000 per tonne by the end of the year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
