Copper: Record prices and Chile supply issues – Commerzbank
Commerzbank’s Norman Liebke highlights that LME 3‑month Copper has set a new all‑time high above USD 14,530 per ton, supported by strong US demand and anticipated import tariffs.
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.
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