By WSJ Staff
Copper prices climbed to another record high, soaring above $13,000 a metric ton in London for the first time, driven by a combination of boundless demand and tightening supply.
-- Futures on the London Metal Exchange rose 0.8% to $13,190 a ton after earlier hitting a record intraday high of $13,387.50.
-- Copper surged 42% last year, marking its biggest annual gain since 2009.
-- In the U.S., front-month copper contracts slipped after setting their first end-of-day record since last summer.
The rally has been fueled by a series of mine disruptions and heavy stockpiling in the U.S., amid concerns that the Trump administration could impose tariffs on refined metal imports this year.
Meanwhile, more and more copper is needed for data-center construction, power-grid upgrades, electric vehicles and renewable-energy installations.
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(END) Dow Jones Newswires
January 06, 2026 06:36 ET (11:36 GMT)
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