Bullish
Copper hits record high of $14,617 amid tight supply and US tariff fears
Copper prices have surged to a record high of $14,617 per ton, driven by tight near-term supplies and expectations of potential U.S. tariffs on refined copper imports. The London Metal Exchange (LME) has seen a significant drawdown in inventories, with available stocks declining to 107,050 metric tons as of August 26, down from 166,775 metric tons on August 19. This tightening supply, coupled with the looming tariff threat, has propelled prices to new heights.
Key points
- Copper prices reached a record high of $14,617 per ton, influenced by tight supply and tariff concerns.
- LME inventories fell sharply to 107,050 metric tons on August 26, down from 166,775 metric tons on August 19, indicating tightening supply.
- The U.S. Commerce Department is expected to report to the White House by June 30, 2026, to inform a final decision on tariffs, adding uncertainty to the market.
- Codelco's El Teniente mine suspended development work on its Andes Norte expansion project due to seismic risks, potentially affecting future supply.
Sources
- Copper hits record high as tight supply, US tariff fears boost pricesBusiness Standard · September 8, 2026
- Copper prices near record highs as LME inventories fall on tariff concernsEconomies.com · September 3, 2026
- Analysis-US tariff threat upends copper surplus as prices test all-time peakReuters · August 25, 2026
- Copper prices near record highs as LME inventories fall on tariff concernsEconomies.com · September 3, 2026
AI-generated from public news sources. Not financial advice.
