Copper Prices Are at a Record High on Supply Stress, Mine Disruptions

Supply Concerns - Ongoing concerns regarding copper supply have been prevalent for several years and are now intensifying in the market [1][2] - Mine supply has decreased this year, leading to insufficient availability for new smelters globally [2] Market Dynamics - Anticipation of tariffs on refined copper by the US government is contributing to a significant influx of metal into the US, potentially leaving less for the rest of the world [3] - A prominent copper trader has expressed a bullish outlook, predicting substantial price increases for copper in the coming year [3] Price Trends - A combination of supply issues and tariff expectations is driving copper prices to record highs [4] - Similar supply constraints are affecting silver, with a notable influx into the US due to market pressures and tariff expectations [4][5] - The global market for metals, particularly outside the US, is experiencing tight conditions, making it susceptible to price spikes [5]