Copper Price Hits Historic High Again:

2022 (Post-Pandemic Peak): Prices hit highs above $10,000/mt in March due to supply fears from the Russia-Ukraine conflict, then cooled as central banks raised interest rates aggressively.

2023 (Stagnation Year): Prices remained range-bound between $8,000–$9,000/mt as high inflation and a sluggish Chinese property sector dampened industrial demand.

2024 (Recovery Phase): Renewed momentum pushed prices toward $10,000/mt in May, driven by global AI data centers, power grid upgrades, and tightening copper concentrate supply.

2025 (The Surge): Prices skyrocketed to record levels, closing December 23 at $11,940/mt, fueled by severe mining disruptions in South America, a global supply deficit, and pre-emptive stockpiling ahead of U.S. tariff shifts.

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