Driving without brakes. Copper prices are already approaching USD 13,000

Copper prices on the LME metal exchange in London have set a new record and are approaching USD 13,000 per tonne, brokers inform.

Copper in 3-month deliveries on the LME increased by 6.6%. to a record USD 12,960.00 per tonne. In December, the metal gained over 15%. – this is an impressive increase in ratings.

On Comex in New York, copper is priced at $5.8420 per pound, up 0.04 percent, after rising 1.2 percent earlier. to USD 5.9080 per pound and up 5% on Friday.

On the SHF Metal Exchange in Shanghai, copper is priced at 100,870 yuan per tonne, up 2.81%.

Players are investing massively in copper, expecting that a surge in demand for the metal shipped to the United States – to help avoid the impact of President Donald Trump's potential tariffs – will put copper buyers in other parts of the world in a very difficult situation.

Analysts indicate that an extraordinary year for copper is coming to an end, marked by unplanned downtime in many important copper ore mines around the world, uncertainty about US President Donald Trump's trade policy and pressure on the operations of copper smelters around the world.

President Donald Trump is expected to decide on import duties on copper in mid-2026.

However, there are warnings in the markets that copper prices have risen too high, and the positive wave dominating the precious metals markets could also spread to the markets of the “red” metal.

In London, the LME metal exchange was closed on Friday due to the Christmas break.

At the end of the pre-Christmas session, copper on the LME cost USD 12,162.00 per tonne, up by USD 102. (PAP Biznes)

aj/ ana/