Copper Prices Hit Record Highs as U.S. Tariff Speculation and Supply Disruptions Roil Markets

Comex futures surge to $5.2145 per pound, driven by halted Chilean shipments, U.S. tariff uncertainty, and China's economic stimulus.

Copper futures on New York's Comex exchange reached a historic $5.2145 per pound, surpassing the previous record set in 2024.
The U.S. Commerce Department's ongoing probe into a potential 25% tariff on copper imports has fueled uncertainty and speculative market activity.
Glencore Plc temporarily halted copper shipments from its Altonorte smelter in Chile, further tightening global supply chains.
China's pro-growth economic policies and strategic stockpiling have amplified demand, contributing to the price surge.
The price gap between Comex and LME copper has widened to unprecedented levels, with significant volumes of copper redirected to the U.S. in anticipation of tariffs.