US tariff threat drives copper prices near record highs
Prospects of US import tariffs have driven copper prices near record highs by draining inventories in other regions. COMEX stockpiles reached record levels as traders shipped metal ahead of potential 2027 tariffs, tightening global supplies.
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Copper prices surged to $14,343 per metric ton on Tuesday midday, closing in on the all-time peak of $14,527.50 amid potential U.S. tariff threats. The rally highlights localized supply strains rather than a global deficit. United States import incentives are draining inventories across other regions.
