19.01.2026 14:30
U.S. President Donald Trump's rhetoric on tariffs and strong demand from China have driven copper prices up; the price of copper on the London Metal Exchange rose by 1.3% to $12,965 per ton.
Copper prices have risen again due to U.S. President Donald Trump's threats of tariffs over Greenland weakening the dollar and China's achievement of its growth target. The price of copper per ton on the London Metal Exchange increased by 1.3% to $12,965.
GLOBAL UNCERTAINTY INCREASED COMMODITY DEMAND
While Trump's tariff rhetoric put pressure on the dollar, increasing uncertainty in the markets directed investors towards commodity markets. China's achievement of its economic growth target also supported the upward movement in copper.
TARIFF RHETORIC AFFECTED EUROPE
Trump announced that tariffs could be applied to eight European countries, including Germany and the United Kingdom. This statement strengthened the search for safe havens, while the rise in precious metals also spread to base metals.
SUPPLY CONSTRAINTS AND DEMAND SUPPORT PRICES
The rise in copper, which has been in a rally for five months, is fueled by supply constraints. While supply shortages exert upward pressure on prices, investments in artificial intelligence, cabling, and renewable energy projects are increasing copper demand. Strong purchases from China and investors' tendency towards "debasement trade" are also supporting the price increase.