Copper hits record highs amid US tariffs and supply concerns
Copper prices have accelerated their rally this week, reaching an all-time high of 14,697 per ton at the London Metal Exchange (LME) on Tuesday.
Commerzbank's Norman Liebke notes that the LME 3-month Copper price has reached a record high of over USD 14,530 per ton, driven by robust demand in the US and potential import tariffs. Chilean exports, which make up about a quarter of global mine output, have been negatively impacted by weather-related disruptions, port issues, and operational challenges, causing a 14% decline in August compared to the previous month and a 3.2% drop from the previous year.
Despite higher average copper prices, Chile's weaker exports are contributing to the elevated copper price level.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
