2026.08.0502:54:57UTC+00Copper Climbs Toward Fresh Record High

Copper futures climbed above $6.6 per pound, approaching new record highs as tightening global supply underpinned prices. Traders continued to accelerate shipments to the United States while drawing down inventories in other regions ahead of an anticipated decision by the Trump administration on copper import tariffs. Industry data showed that more than 200,000 tons of copper arrived at US ports in July, the largest monthly inflow in over a decade, further adding to the substantial stockpiles accumulated over the past year. At the same time, copper inventories across the London Metal Exchange warehouse network fell to a five-month low, with traders citing higher shipments to China to alleviate a domestic shortage. Copper prices also remained supported by a robust long-term demand outlook, driven by the global shift toward clean energy and the rapid build-out of artificial intelligence data centers.