Copper futures trade around $6.76 per pound near record highs
Copper futures were around $6.76 per pound on Thursday, staying near record highs. The report cites supply concerns, tariff uncertainty on refined metal imports, declining LME and SHFE warehouse inventories, South American operational disruptions, and demand growth from data centers, renewables and electricity grids.
76 per pound on Thursday, holding close to record highs as supply concerns and tariff uncertainty kept prices supported. Markets were watching for the Trump administration’s decision on new tariffs on refined metal imports. The persistent premium for copper futures on New York’s Comex has continued to create arbitrage opportunities, and traders have kept redirecting shipments toward US warehouses, contributing to sharply declining inventories at London Metal Exchange and Shanghai Futures Exchange warehouses. Major copper-producing countries in South America have also seen operational disruptions this year, which has weighed on production and exports.
At the same time, supply has struggled to keep up with demand from data centers, renewable energy projects and electricity grids.