Copper Hits Record High as Supply Fears Meet Demand

Copper prices reached their highest level ever on the London Metal Exchange.

The price reached $14,533 for a tonne of copper.

Traders moved more copper into the United States because they expected possible tariffs on imported refined copper.

This pushed United States warehouse stocks to a record level.

At the same time, copper supplies outside the United States became tighter.

Older mines are having difficulty producing enough new copper, and some major producers have faced operating problems.

New data centres, power networks, renewable energy projects and electric vehicles all need copper.

These supply concerns and growing demand helped push prices above earlier forecasts.