Bullish
Copper prices surge to record highs amid U.S. tariff threats and supply tightness.
In the past 24 hours, copper prices have reached record levels, driven by concerns over potential U.S. import tariffs and tightening global supply. The Commodity Exchange (COMEX) copper for September delivery rose as much as 1.8% to $6.7270 per pound, surpassing its previous record. This surge is attributed to strong U.S.-bound demand and the withdrawal of significant amounts of copper from London Metal Exchange (LME) warehouses, with much of the material expected to move to the U.S.
Key points
- COMEX copper hits record high of $6.7270 per pound amid U.S. tariff concerns.
- Over 65,000 tonnes of LME copper earmarked for withdrawal, mainly directed to U.S. markets.
- Global copper surplus forecasted at 639,000 tonnes in 2026, but U.S. demand may balance or shift market to deficit.
- Rising U.S. interest rate expectations strengthen USD, applying downward pressure on copper futures.
Sources
- US Tariff Threats Push COMEX Copper Prices to All-Time HighScrapMonster · August 27, 2026
- Rising Rate Hike Expectations Drive US Dollar Higher, Copper Futures Under Pressure Pull BackShanghai Metals Market · August 27, 2026
- Copper Hits Record as U.S. Tariff Threat Absorbs Global SurplusNaturalNews.com · August 27, 2026
- Copper Prices Near Record Highs Amid Tariff-Driven Stockpile ImbalanceStockTi · August 27, 2026
AI-generated from public news sources. Not financial advice.
