Copper Soars Beyond 14,500 as Tariffs Tighten Global Supply

Copper futures in London surged to a record above $14,500/ton as tariff front-running flooded US warehouses and tightened supply elsewhere. The move is described as a repricing of scarcity driven by weather, war, and policy, with three-month LME copper near $14,533/ton and the rally up about 17% this year and 47% over 12 months, underscoring that copper’s surge reflects tighter physical availability for data centers, grids, and electrification projects rather than a simple demand spike.