Copper prices hit a record high on the London Metal Exchange on Monday amid speculation that US President Donald Trump could impose new tariffs on imports of the metal into the United States.
The benchmark three-month copper futures contract rose by 0.8% to $14,533 a tonne, surpassing the previous record, set in January.
More broadly, copper prices have been driven higher by a persistent imbalance between supply and demand.
Demand has continued to grow as copper is increasingly needed for the energy transition, artificial intelligence and defence industries.
