🔶 Commodities Spotlight | Copper Breaks Records in 2025
Copper has emerged as one of the strongest-performing commodities of 2025, driven by the accelerating global energy transition and infrastructure expansion.
📈 Key highlights:
Copper prices are up over 30% in 2025
Prices surpassed $12,000 per ton in December, marking the largest annual gain since 2009
Demand is being fueled by renewable energy projects, electrification, and AI data center construction
🧠 Expert insights:
Natalie Scott-Gray of StoneX warns that persistently high prices could push manufacturers to seek substitutes, dampening demand in non-essential uses.
Alastair Munro from Marex says markets are increasingly pricing in a structural copper shortage starting in 2026.
Albert Mackenzie at Benchmark Mineral Intelligence highlights concerns as U.S. copper inflows push COMEX inventories to record highs.
Alice Fox of Macquarie Group expects elevated copper prices to persist into 2026.
🌍 Regional imbalance:
U.S. inventories surge amid tariff-driven inflows
**London Metal Exchange inventories in Europe fall below 20,000 tons, tightening regional supply
🔮 Outlook:
With green energy, AI infrastructure, and electrification all competing for supply, copper’s strategic importance is growing fast—and the market appears to be entering a new long-term cycle.
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#Metals