
Copper Hits Record $14,533 as Tariff Fears and Mine Shortages Tighten Global Supply
Copper prices reached a record high of $14,533 per metric ton on the London Metal Exchange (LME) in early September 2026. The surge was driven by a combination of anticipated U.S. tariffs, which prompted massive imports into American warehouses, and structural supply constraints from global mining operations. While global inventories remain high, regional shortages are tightening markets, particularly for AI and grid infrastructure demand.