Copper futures soar to all-time highs on supply concerns
Copper futures settled higher on Tuesday, reached an all-time high, driven by concerns over tightening supply and tariff uncertainty in the United States. Copper prices further supported by a constructive demand outlook, with sustained consumption from power grid upgrades, renewable energy investments, and rapid data center expansion, while policy support and ample liquidity in the world’s top metal consumer China continued to underpin longer-term price strength. Meanwhile investors are awaiting key US economic data later this week that could help to gauge the outlook for Federal Reserve policy.
Copper futures for March delivery rose $0.087 to settle at $6.0625 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.90% at $13,238 a ton.
