Copper prices reach $12,000 for first time amid tariff disruptions
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Copper prices hit a record $12,000 per ton due to supply disruptions and U.S. tariff policy under Trump. Despite China's slowing demand, prices rose over 30% this year. Concerns about U.S. tariffs led to increased imports, affecting global trade patterns. Supply issues at mines may cause a significant shortfall, with demand potentially exceeding supply by 600,000 tons in 2026. Citigroup predicts prices could reach $15,000 per ton, while Goldman Sachs raised its forecast to $11,400 for next year. Copper traded at $12,042.50 per ton on the LME.
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