Global copper prices rallied sharply as the industrial metal edged closer to the $12,000 per metric ton mark, driven by tightening supplies, strong investor sentiment, and robust demand from technology-linked sectors. On the London Metal Exchange, benchmark copper prices climbed as high as $11,928 a ton, bringing them within about $25 of an all-time high and marking a substantial gain of more than one-third so far in 2025. The rally in copper came alongside broad strength in other base metals such as tin, aluminium, and nickel, reflecting heightened bullishness across commodity markets.
Market analysts attributed the rally to a combination of supply constraints — including mine outages and stockpiling by major buyers — and rising demand linked to artificial intelligence, data infrastructure, and renewable energy projects, which require significant amounts of copper for electrical systems and power grids. The tightening supply narrative was underscored by forecasts that copper could maintain elevated levels into 2026, while momentum in other base metals continued as producers and investors adjusted positions amid expectations of continued demand growth.
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