{
  "id": 6596178,
  "title": "Copper: Record prices with real constraints – NBC",
  "url": "https://urgent.news/2026/09/10/copper-record-prices-with-real-constraints-nbc",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T13:43:37.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/copper-record-prices-with-real-constraints-nbc-202609101343"
  },
  "original_language": "en",
  "account": "National Bank of Canada's Kyle Dahms reports that copper has hit a new nominal record, bolstered by AI-related data centre demand, electricity grid expansion, tariff-driven stockpiling, and supply disruptions. In constant dollar terms, copper is at a 15-year high and approaching its 2011 peak, which hikes costs for power grids, AI infrastructure, and electrification projects. The long-term demand remains fueled by AI-related data centre construction and the corresponding increase in electricity generation and grid expansion, while recent surges have been fueled by tariff-driven stockpiling and supply disruptions. A lesser-known factor contributing to copper's price rise is the curtailment of sulphur shipments through the Strait of Hormuz, driving sulphur prices over twice their January level. Sulphur is a crucial feedstock for sulphuric acid, employed in specific processing methods. As a result, copper is presently trading at a 15-year high and is poised to surpass its 2011 peak, potentially elevating its real price to its highest point since the mid-1970s. This surge could be considered a tax on investments meant to fuel future growth, increasing the expenses of power grids, AI data centres, and other electrification projects at a time when geopolitical fragmentation is making supply less dependable.",
  "summary": "National Bank of Canada's (NBC) Kyle Dahms highlights that Copper has reached a fresh nominal record, driven by AI-related data-centre demand, electricity grid expansion, tariff-driven stockpiling and supply disruptions.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}