The price of copper hit a record high on Tuesday amid signs of tight supply and growing demand from electrification and data center investment.
Copper futures for delivery in three months on the London Metal Exchange (LME) rose 3.1% to $13,387.5 a tonne. Copper prices have risen 6.6% since the start of 2026, breaking above $13,000 a tonne for the first time on Monday.
The rise in copper prices above $13,000 a tonne is driven by a growing imbalance between structural supply constraints and accelerated demand growth amid electrification and data center investment, said ING analyst Eva Manty. - A lack of investment over the years, as well as ongoing challenges in mining operations, have left the market little room to manoeuvre.
A strike at the Capstone Copper gold-copper mine in Mantoverde in northern Chile that began last week has fueled fears of a global copper shortage this year.
Copper is widely used in electrical, pipe, alloying, medicine and other industries.
Previously Information and Analytical Center of the Club of Experts published a video report on global copper production and leading producing countries - https://youtube.com/shorts/_h8iU50z8C0?si=a-XkgGEfeUxseQNa
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