Copper prices reached a new record on Monday driven by a tense market.
In London’s futures market, copper rose by 1% to hit $11,294.50. Prices also climbed on New York’s metals market.
Supply chain challenges and uncertainty over US tariffs are pushing prices higher, with disruptions affecting several purchasing sites globally.
At the same time, demand for copper continues to grow. In recent weeks, massive shipments of the metal have been sent to the US to take advantage of higher domestic prices.
This comes as traders await clarity on import duties for copper in the United States.
