Due to stockpiling of copper in the United States, prices could surge to new record highs.
Copper prices have surged this year, hitting multiple record highs, fueled by supply disruptions and concerns over potential US import tariffs, which led to heightened demand. This rally is expected to continue well into 2026. Analysts at Citi predict a significant upward spike in copper prices driven by strengthening demand, led primarily by the energy transition and Artificial Intelligence (AI) sectors. Electrification, grid expansion, and the construction of data centers all require substantial amounts of copper for wiring, current transmission, and cooling infrastructure.