Copper touches record high, focus on tight supplies outside US

By Sohail Khan 7 September 2026, 9:54 pm

Benchmarks
Nifty23,779.15-118.55

Precious Metal
Gold (MCX) (Rs/10g.)152,928.00161.0

Enter search text:

Business News›Markets›US Stocks›Wall St Guide›Copper prices scale fresh record high as focus turns to tight supplies outside US

Read Today's Paper

Copper prices scale fresh record high as focus turns to tight supplies outside US
Synopsis

Copper prices hit a record high as concerns over shortages outside the US boosted buying, while a weaker dollar supported metals. LME copper touched $14,533 a metric ton, surpassing its January peak. Falling Shanghai stocks and strong US inventories highlighted the growing divergence in global copper supplies.

Listen to this article in summarized format

Loading…
×
×

Unlock AI Briefing and Premium Content

New Year Offer 24 Hours Left
Already a member? Sign In

What's Included

Exclusive Stories
Daily ePaper Access
Smart Market Tools
Curated Investment Ideas
Ad-lite Experience
Subscription

Copper prices scale fresh record high as focus turns to tight supplies outside US — Copper prices hit a record high amid supply concerns

Copper prices hit a record high on Monday as the prospect of shortages outside the U.S. fuelled buying, while a softer dollar further supported positive sentiment, according to a Reuters report.

Traders said volumes were likely to remain muted due to a U.S. holiday, with attention focused on copper and zinc.

Benchmark copper on the London Metal Exchange touched a record high of $14,533 a metric ton, surpassing its previous all-time peak of $14,527.50 reached in January. It later pared gains slightly to $14,518 by 1515 GMT, up 0.7%.

Also read: Brent crude oil price nears $100 as attacks on tankers threaten to worsen supply shock

Traders and producers have been shipping large volumes of copper to the U.S. since President Donald Trump first mooted import tariffs in February last year. Comex copper stocks currently stand at a record 766,795 short tons, or 695,624 metric tons.

"It's hard to know what will happen on tariffs, but the longer ⁠there is ‌uncertainty, the longer prices will remain elevated as material flows to the U.S.," Albert Mackenzie, an analyst at Benchmark Mineral Intelligence, told Reuters.

Elevated premiums, or backwardations, for nearby contracts over longer-dated forwards have encouraged some copper to flow back to the LME.

However, cancelled warrants, which represent metal earmarked for delivery, stood at 51%, indicating that more than 121,000 tons of copper is likely to leave the LME system over the next few weeks.

The premium for cash copper over the three-month forward contract climbed above $430 a ton in the middle of August, its highest level since 2021. It closed at around $74 on Friday.

Another indication of tightening supplies outside the U.S. is the level of stocks in warehouses monitored by the Shanghai Futures Exchange. Inventories stood at 63,000 tons, down 85% since the middle of March and at their lowest level since January 2024.

Copper prices on the SHFE are also in backwardation, suggesting that the industry in top consumer China is increasingly concerned about supplies.

Elsewhere, zinc gained 1.1% to $3,988 a ton, supported by tight supplies, after touching its highest level since May 2022 at $3,998.

A weaker U.S. currency, which makes dollar-priced metals cheaper for holders of other currencies, provided broader support to base metals.

Aluminium rose 0.7% to $3,315 a ton and tin added 0.4% to $55,100, while nickel slipped 0.7% to $16,725 and lead declined 0.3% to $1,903.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The )

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our ETMarkets WhatsApp channel)

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

…moreless

(You can now subscribe to our ETMarkets WhatsApp channel)

Read More News on
copper price todaycopper pricecopper hits record highcopper price Indiacopper rate todaycopper stockscopper marketcopper price latestmetal prices todaycopper supply

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

…moreless

Enter search text:

BrowseCompanies:
ABCDEFGHIJKLMNOPQRSTUVWXYZ
123456789

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with in-depth insights that matter

Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

The problem with lab grown diamonds
Why a falling rupee is a better option for the economy

A list of top 20 momentum stocks that have delivered massive returns in one year