Copper Hits a Record US$14,533 a Tonne
Copper set a record US$14,533 a tonne on 7 September 2026, lifting Chilean and Peruvian receipts and raising the cost of the grid build-out it is meant to fund. The post Copper Hits a Record US$14,533 a Tonne appeared first on The Rio Times .
Copper hit a record price of US$14,533 a tonne on September 7, 2026, according to the London Metal Exchange's three-month contract. This significant increase impacts Chile and Peru, the world's largest copper producers, as well as buyers of electrical infrastructure in the region. With falling ore grades, higher costs for producing new supplies, and growing demand for copper due to grid and transport electrification, the price rise presents challenges for utilities planning investments in Latin American grids up to 2030.
While the record nominal price is noteworthy, adjusting for inflation reveals that previous peaks in real terms were even higher. Chile and Peru use different reference prices for budgeting, with Chile's fiscal rule safeguarding against windfall profits. The state-owned producer, Codelco, benefits from the high price temporarily but faces challenges with high debt and falling output.
The record price affects the cost of grid construction, transmission lines, distribution transformers, and electric motors, potentially prompting utilities to explore aluminum alternatives where feasible.
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