Copper hovers near record highs on supply concerns

Global copper prices traded near elevated levels, amid ongoing concerns over constrained supply and rising demand from industrial and energy sectors, according to Bloomberg reports.

In the latest data, copper prices on the London Metal Exchange showed little change, with the red metal holding near $11,727.50 per metric ton in morning trading, as prices stabilized compared with previous sessions despite broader market volatility.

Futures data on the COMEX exchange showed a decline in trading volumes and a slight drop in open interest, reflecting reduced market activity compared with recent sessions, while investors continue to monitor global supply and demand dynamics.

Prices remain close to historical highs, having approached the $12,000 per ton threshold in recent sessions, driven by stronger global demand—particularly from digital transformation and renewable energy sectors—alongside investor concerns over inventory accumulation and tightening supply.

Bloomberg also reported that higher copper prices are boosting the performance of European mining stocks, which are on track for one of their strongest years since 2016, supported by the rally in this key metal. Copper continues to attract global market attention as a leading indicator of economic health and industrial demand, given its extensive use in electricity, infrastructure, electric vehicles, and data centers, making its price movements influential across commodity and metals markets more broadly.