Copper surges 17% YoY to all-time high amid global tariff turmoil

Copper prices have surged 17% year-on-year to a record $14,533 per tonne on the London Metal Exchange amid uncertainty over US import tariffs. Traders are rushing large copper shipments into the US ahead of expected tariffs, while ageing mines struggle to meet rising demand. Clean energy projects, power grid expansion and AI data centres are further driving global copper consumption.