Archive · 16 Dec 2025
Copper Prices May Hit Record Highs by 2026
Copper prices are going up a lot because people need more of it for things like electricity and computers.
Some experts think it could get even more expensive by 2026.
The United States is keeping a lot of copper, which makes it harder to get in other countries.
This is making the price go up even more.
Some people think the price could reach $15,000 per ton, which is a lot higher than it is now.
But others think it might not get that high.
Either way, it's going to be more expensive, which could make some things that use copper, like electricity, more expensive too.
Copper prices have surged this year, reaching record highs due to supply disruptions and strong demand.
Analysts predict copper prices could reach $13,000 to $15,000 per ton by 2026, driven by energy transition and AI sectors.
US hoarding of copper is limiting international availability, contributing to price increases.
Spot copper prices hit $11,816 per ton on the London Metals Exchange on December 12, with three-month futures at $11,515.
Higher copper costs could squeeze margins in energy-intensive industries, according to ING's Ewa Manthey.
- Who
- Analysts from Citi, Avatar Commodities, and ING
- What
- Copper prices surging due to supply disruptions and strong demand
- When
- Prices expected to rise into 2026, with forecasts for early 2026 and Q2 2026
- Where
- Global market, with significant US hoarding and inventory retention
- Why
- Rising demand from energy transition and AI sectors, supply constraints, and US tariff fears
- Current Spot Price
- $11,816 per ton
- Three-Month Futures Price
- $11,515 per ton
- Citi's 2026 Price Forecast
- $13,000 to $15,000 per ton
- ING's 2026 Price Forecast
- $12,000 per ton by Q2 2026
- Key Demand Drivers
- Energy transition, AI, electrification, grid expansions, data centers