Copper Climbs to Record as China Policy, US Imports Spur Rally

Group 1 - Copper prices reached an all-time high of $11,771 per ton, driven by China's focus on domestic growth and stockpiling in the US [1][2] - Analysts expect copper to benefit from supportive policies aimed at power-grid upgrades and computing power, indicating a bullish market outlook [2] - The demand for copper has surged over 30% this year on the London Metal Exchange, fueled by new requirements from data centers and electric vehicles, while supply remains tight due to mine outages [3] Group 2 - Concerns over potential tariffs from the US have led to increased stockpiling of copper, resulting in squeezed inventories and unprecedented premiums [4] - A projected shortfall of 450,000 tons of refined copper by 2026 is anticipated, necessitating prices to average above $12,000 per ton next year to attract investment in new mining capacity [5] - Copper settled at $11,635.50 per ton on the LME, with other metals, except zinc, experiencing declines [6]