Copper prices are rising at a pace that is forcing global markets to rethink the future of industrial commodities. What was once a metal tied largely to construction cycles and manufacturing demand is now being reshaped by artificial intelligence, geopolitical tensions, electrification and deep structural supply shortages.
On Thursday, copper prices on the London Metal Exchange climbed more than 1% to $14,153 per metric tonne, inching closer to the record peak of $14,527 touched in January this year. Since tensions escalated around Iran and the Strait of Hormuz, copper prices have already surged 9%, while year-to-date gains are now approaching 15%.
