Copper Price Surges to Record High Amid Supply Concerns

Strike in Chile Drives Global Market

Copper prices reached an all-time high of $13,000 per ton during Monday's trading session as investors reacted to news of a strike at major copper-producing mines in Chile. The London Metal Exchange (LME) benchmark copper price rose 4.4% to $13,020 per ton at its peak, exceeding the previous record of $12,960 set on December 29, 2025. By 13:50 GMT, the price had settled at $13,006 per ton.

Market Dynamics and Contributing Factors

The surge in copper prices was driven by multiple factors including:

1. Supply disruption concerns: The strike at Chile's copper mines raised immediate concerns about global supply chains.
2. Low LME warehouse stocks: Existing low inventory levels in LME warehouses amplified the impact of supply concerns.
3. Projected market deficit: Expectations of a market deficit in the coming period further supported the price increase.

Market Implications

The record copper price has significant implications for various industries that rely on copper, including electronics, construction, and transportation. The price movement is likely to affect production costs and potentially lead to higher prices for end products.