Copper prices rose, supported by a significant decline in stocks at the London Metal Exchange (LME) and the Shanghai Futures Exchange, according to market data.
0.56% gain
Three-month copper on the London Metal Exchange rose to $13,947 per ton.
Copper futures on the Shanghai Futures Exchange also advanced, rising 0.91% to 106,700 yuan per ton.
Inventory Drawdown
According to exchange data, LME copper stocks fell to 244,025 tons from about 400,000 tons in April. Shanghai copper stocks declined to 69,300 tons from above 430,000 tons in March. In contrast, COMEX copper stocks rose to 717,314 short tons as of August 3.
The rapid decline in stocks strengthened expectations that supply could tighten.
Other Metals
Nickel prices rose 1.7% on the LME and 1.55% on the Shanghai Futures Exchange. Aluminum prices increased 0.76% on the LME and 1% on the Shanghai Futures Exchange. Lead prices gained 0.78% in London and 0.23% in Shanghai. Tin prices rose 0.62% in London and 0.81% in Shanghai. Zinc prices advanced 0.33% on the LME but fell 0.58% on the Shanghai Futures Exchange.
Copper advanced to its highest in two months, approaching $14,000 a ton in London. Traders monitored ballooning volumes of copper in the US ahead of a decision on import tariffs by President Donald Trump.
Updates
Copper prices are currently testing a near-record high of $6.65 per pound, reflecting an increase of more than 18% since the end of 2025. This upward momentum is driven by supply chain disruptions in the Strait of Hormuz and surging demand from AI infrastructure, data centers, and the electric vehicle sector. Additionally, easing Middle East tensions have improved the global growth outlook, further supporting the metal's resilience.
Copper prices are now testing a near-record high of $6.65 per pound, representing a gain of more than 18% since the end of 2025. This upward momentum is being driven by massive AI investments in data centers and energy infrastructure, alongside growing demand from China's electric vehicle sector and renewable energy transitions. Additionally, disruptions to the sulfur supply chain in the Strait of Hormuz have reportedly impacted copper production.
Copper prices are currently testing a near-record high of $6.65 per pound, representing a gain of more than 18% since the end of 2025. While massive AI infrastructure investments and China's electric vehicle sector are driving demand, high inflows have pushed combined US-based COMEX and LME inventories above 740,000 tonnes. Additionally, LME reports show an extra 110,860 tonnes of copper held at US ports as of Friday.
Copper prices have now tested a near-record high of $6.65 per pound, approaching the all-time high of $6.67 set on May 13, with prices up more than 18% since the end of 2025; US copper inventories have surged past 740,000 tonnes due to record monthly inflows of over 200,000 tonnes and an additional 110,860 tonnes held at US ports, while LME stocks outside the US plunged, driven by AI infrastructure demand, renewable energy investments, China’s EV boom, and geopolitical-driven shifts in trade flows—particularly outflows from China’s Lingang warehouse amid Trump’s tariff threats, though analysts warn prices could dip if those threats are withdrawn.
Copper prices have surged to near-record highs of $6.65 per pound, approaching the all-time high of $6.67 set on May 13, with prices up more than 18% since the end of 2025; new data shows US copper inflows hit a 12-year high last month, pushing combined COMEX and LME inventories above 740,000 tonnes, while LME stockpiles outside the US tumbled sharply, and experts attribute sustained demand to AI infrastructure investments, renewable energy projects, and China’s EV expansion—despite supply concerns from China’s export outflows and speculative tariff-driven shifts.
Copper prices have surged to near-record highs of $6.65 per pound, approaching the all-time peak of $6.67 set in May, with gains exceeding 18% since the end of 2025; new data shows US copper inflows hit a 12-year high last month, pushing combined COMEX and LME inventories above 740,000 tonnes, while LME stockpiles outside the US plunged, and experts attribute sustained demand to AI infrastructure, renewable energy investments, and China’s EV expansion — despite concerns that Trump’s tariffs are diverting copper away from China, with Lingang warehouse outflows rising and analysts warning of potential price volatility if tariff threats are withdrawn.
Copper prices have surged to near-record highs of $6.65 per pound, approaching the May 13 all-time peak of $6.67, with prices up more than 18% since the end of 2025; US copper inventories have climbed above 740,000 tonnes due to a 12-year monthly high in arrivals—over 200,000 tonnes last month—and an additional 110,860 tonnes held at US ports, while LME stocks outside the US fell sharply, driven by AI infrastructure demand, EV growth, and renewable energy investments, according to expert Zafer Ergezen, even as analysts note Trump’s tariff threats are shifting copper out of China, with Lingang warehouse outflows continuing this year.
Copper prices have surged to near-record highs of $6.65 per pound, approaching the all-time peak of $6.67 set in May, with gains exceeding 18% since end-2025; new data shows US copper inflows hit a 12-year high of over 200,000 tonnes last month, pushing combined COMEX and LME inventories above 740,000 tonnes, while LME storage at US ports rose by 110,860 tonnes, even as global inventories outside the US plummeted — analysts attribute the rally to AI-driven demand for data centers and energy infrastructure, shifting supply flows away from China amid tariff pressures, with expert Zafer Ergezen noting copper’s resilience outpaces other industrial metals despite recession fears.
Copper prices have surged to near-record highs of $6.65 per pound, approaching the all-time high of $6.67 set on May 13, with a more than 18% gain since the end of 2025; U.S. copper inventories have climbed above 740,000 tonnes due to record monthly inflows of over 200,000 tonnes and an additional 110,860 tonnes held at U.S. ports, while LME stocks outside the U.S. plunged, driven by AI infrastructure demand, EV growth, and renewable energy investments, according to expert Zafer Ergezen, even as analysts note Trump’s tariffs are shifting copper out of China, with Lingang warehouse outflows confirming this trend.
