Copper prices continue to grow actively on Monday, breaking records and approaching $13,000 per ton.
Quotes for three-month copper futures on the London Metal Exchange (LME) during trading jumped by 6.6% to $12,960 per ton.
Since the beginning of the year, the price of the metal has increased by more than a third. This is the strongest growth since the beginning of the year. In 2009, when the price of copper more than doubled as the world economy emerged from the global financial crisis.
Investors fear that US President Donald Trump's administration will impose tariffs on US copper imports. Based on such expectations, American companies increased their purchases of metal.
In addition, quotes are supported by interruptions in production at large deposits in Chile, Peru and Indonesia, as well as growing demand for copper in the field of green energy and artificial intelligence.
Copper prices will remain high in 2026, despite an expected slowdown in demand in China, the world's largest consumer of this metal, noted Alice Fox from Macquarie Group.
