Copper Prices Maintain Momentum Entering 2026

Global Market Dynamics

Copper prices demonstrated continued strength at the start of 2026, with the three-month contract on the London Metal Exchange (LME) rising 0.8% to US$12,525 per ton as of January 2, 2026, at 01:44 GMT. This movement maintains the record-breaking trajectory established in 2025 when copper prices surged to their highest level ever. The price stability observed at the beginning of the year suggests sustained investor confidence and positive market fundamentals.

Market Context and Implications

The copper market's performance is closely tied to global economic indicators, particularly in sectors related to energy transition and infrastructure development. As a critical component in renewable energy technologies and electrical infrastructure, copper demand is expected to remain robust. The observed price strength reflects market expectations of continued demand growth, particularly from emerging markets and green energy initiatives.

Trading Activity

While LME saw active trading with the copper price reaching US$12,525 per ton, the Shanghai Futures Exchange (SHFE) was closed on the observed trading day. The combination of LME activity and SHFE's subsequent trading will provide a comprehensive view of global copper market dynamics. The current price level indicates a positive start to 2026, building on the previous year's performance.