Comment: Copper prices reach new highs

COMEX has hit new highs as the market tightens, with demand remaining high while potential import levies could disrupt supply.

Nikos Tzabouras, Market Analyst at Tradu.com, commented:

“Copper prices (COMEX) reach new all-time highs, getting the best of both worlds as tariff talk creates supply concerns while consumption is supported by the artificial intelligence boom. President Trump is considering import levies on the non-ferrous metal, which could disrupt supply, while increasing AI spending by tech giants amid heightened competition continues to drive demand. As a result, in the last week we’ve witnessed copper trades double, with Stratos client sellers now outweighing buyers 56/44%.

“This combination has led to a tightening market, which could sustain higher prices. However, escalating trade tensions threaten the global economy, just as fears of a US recession rise. This could weaken copper consumption and lead to lower prices.”