Copper nears record high above $14,000

The price of copper has risen significantly due to a short-term decrease in supply and increased demand, particularly from data centers and power grids. It surpassed $14,000 per ton for the first time since May, reaching an all-time high. Prices increased by 0.9% on the London Stock Exchange, with ongoing indicators of weak inventories and declining mine supplies, which support the upward trend. There is also a divergence between spot and futures prices, with the difference exceeding $150—its highest level since October—reflecting structural challenges faced by buyers. The gains in copper, heavily used in wiring and cables, are part of a three-year extended upward trend driven by the electric transformation boom, with an overall increase of about 14% since the start of the year.

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