Copper Prices Skyrocket to USD6.06 Per Pound

(MENAFN) Copper prices skyrocketed to an unprecedented $6.06 per pound on global exchanges as mounting supply anxieties grip international markets.

The momentum from last year's price surge has extended into the current year. Federal Reserve interest rate reductions, falling real yields, and weakening dollar demand have propelled the commodity's upward trajectory.

Supply disruptions and U.S. President Donald Trump's trade policies particularly hammered copper markets throughout the previous year.

Following Trump's July announcement of a 50% levy on copper imports, prices climbed beyond $5.90 per pound.

An industrial incident at Indonesia's Grasberg mining operation—controlled by U.S.-based Freeport McMoran—further strained copper availability, driving prices higher.

The red metal, alongside silver, faces surging demand from the renewable energy sector. Strengthening global economic forecasts and escalating artificial intelligence infrastructure spending are bolstering copper valuations.

Ongoing worldwide infrastructure development is lifting base metal markets, with copper requirements leading the charge. The persistent metal flow toward American shores has intensified fears of shortages across other geographic zones.

Expanding electric vehicle production and modernization of international power transmission networks are maintaining robust copper consumption.

Demand from the United States, Europe, and India is projected to persist despite apprehension surrounding China's economic trajectory.

Military manufacturing also consumes significant copper volumes.

Uncertainty Drives Market Volatility
Per-pound copper values touched $6.06 on international platforms as the calendar turned, approaching record territory amid availability concerns.

Anxiety over potential U.S. tariff escalation is accelerating the price climb.

Fears that copper shipments will concentrate in America due to tariff considerations are emerging. This dynamic is creating distribution challenges throughout Asian and European markets.

Labor strikes commencing at Chile's Mantoverde mining facility surfaced as an additional element intensifying copper supply worries.

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