Copper | 2026-09-14 00:06:16
These tariff measures are part of broader trade tensions between the US and China, with China being the world’s largest consumer of copper.
SEATTLE (Scrap Monster): Despite prospects of steady global economic growth being clouded by trade tensions, the West Asia conflict, and uncertainty, copper prices have surged in recent months to hit a record high of $14,708 per tonne on Tuesday (September 8).
Three-month copper futures, which are contracts for future purchase, on the London Metal Exchange (LME) remained above the $14,000-per-tonne mark for most of August before climbing in September.
The rally comes after a period of volatility. Copper prices crossed the $12,000-per-tonne mark in December last year, recording their biggest annual gain since 2009, before cooling to $11,929.5 per tonne in March. The decline came amid concerns that higher energy costs stemming from the West Asia conflict could weigh on global economic growth and weaken demand for industrial commodities. So, what has happened now?
The red metal is essential to the modern economy, with uses ranging from housing and manufacturing to power grids, clean energy, artificial intelligence and ...