Copper is entering uncharted territory, with prices pushing above $6.80 per pound as supply concerns collide with rapidly growing demand. Recent trading has also seen record highs in London, with LME copper reaching about $14,779 per metric
🔥 Why is copper surging?
1. Tightening mine supply
Global mine production has been under pressure, with major producers including Chile, Indonesia and the Democratic Republic of Congo reporting declines. Global copper-mine output fell about 1.1% in the first half of 2026.
2. AI and data-center boom
AI data centers require enormous amounts of electricity and electrical infrastructure. Expansion of grids, power transmission and data centers is creating additional structural demand for copper.
3. EVs and renewable energy
Electric vehicles, renewable-energy projects and grid modernization are all copper-intensive, strengthening the long-term demand outlook.
4. U.S. tariff uncertainty
Potential U.S. tariffs on refined copper have encouraged traders to move metal into U.S. warehouses. That has tightened availability in other markets and added a premium to U.S. copper prices.
📈 What happens next?
The move above $6.80 signals powerful bullish momentum, but record highs can also attract profit-taking and sharp corrections. If supply remains constrained while AI, electrification and infrastructure demand continue growing, $7 per pound could become an important psychological target.
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