The price of copper is likely to set new records this year at $12,000 or more per tonne, according to several of the world’s largest trading houses, lifted by growing global demand and the threat of US President Donald Trump’s trade tariffs.
Trading houses Mercuria and Trafigura and hedge fund Frontier Commodities said at the Financial Times’ Commodities Summit in Lausanne on Tuesday that they expected the price on the London Metal Exchange to move sharply higher this year.
The London copper price hit a record of almost $11,000 in May 2024. After falling back late last year, it has risen in 2025 and was trading at about $10,000 on Tuesday.
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