Copper prices hit a new record high on Tuesday amid signs of limited supply and growing demand linked to electrification and investment in data centers.
The price of copper futures for delivery in three months on the London Metal Exchange (LME) rose 3.1% during trading to $13,387.5 per ton. Since the beginning of 2026, the price of copper has risen 6.6%, exceeding $13,000 per tonne for the first time on Monday.
“The rise in copper prices above $13,000 per ton is due to the growing imbalance between structural supply constraints and accelerated demand growth amid electrification and investment in data centers,” notes ING analyst Eva Manti. “Years of underinvestment and prolonged problems at mines have left the market with virtually no room for maneuver.”
The strike at Capstone Copper’s Mantoverde gold-copper mine in northern Chile, which began last week, has heightened concerns about a shortage of copper supply in the global market this year.
Copper is widely used in electrical engineering, pipe manufacturing, alloy production, medicine, and other industries.
Earlier, the Experts Club information and analytical center released a video dedicated to global copper production and leading producing countries – https://youtube.com/shorts/_h8iU50z8C0?si=a-XkgGEfeUxseQNa
