BERLIN

Copper prices reached a new record on the London Metal Exchange (LME) after the Christmas holidays, driven by tightening supply expectations and broader market pressure.

The three-month copper contract on the LME rose to $12,960 per tonne, the highest level ever recorded. The price represents a 6.6% increase since Dec. 24 and a more than 41% rise since January 2025, with over 15% of that increase occurring in December alone.

Analysts cite supply shortages, a weaker dollar, and US tariff policies throughout the year as the primary factors behind the surge.

Copper remains a key industrial metal, widely used in electrical engineering, construction, and mechanical engineering, making price rises significant for global manufacturing and infrastructure costs.