Copper hits record high above US$6,439 per pound on supply risks and demand

radio.uchile.cl (Spanish)

Copper hit a new all-time high on Tuesday, closing at US$6,439 per pound on the London Metal Exchange, equivalent to US$14,195 per ton. This surpasses the previous record of US$6,394 set on May 13. The Chilean Copper Commission (Cochilco) reported a daily increase of 1.79% and a 2026 average price of US$5.90 per pound. Key drivers include supply risks, mineral scarcity, negative treatment charges, and rising demand from electrification, renewables, data centers, and artificial intelligence. In May, Cochilco raised its 2026 price forecast to US$5.55 per pound and reaffirmed Chile's position as the world's top copper producer, accounting for about 22% of global output.


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Copper hits record high above US$6,439 per pound on supply risks and demand | News Minimalist