Copper just touched $14,858.50 a tonne before dropping more than 4% on fresh US tariff uncertainty.
What’s driving the rally?
- AI data centres need more copper
- EVs use far more copper than petrol cars
- Grid upgrades are adding to demand
- Mine disruptions and falling inventories are tightening supply
- US tariff uncertainty is adding another layer of volatility
BUT HERE’S THE TWIST 
The long-term demand story looks very different from the short-term trading story.
Analysts are split on where prices go next, with estimates ranging widely. That gap shows how much uncertainty is sitting inside the current price.
Copper is no longer just “Dr. Copper.”
It is now at the crossroads of AI, EVs, energy infrastructure and global trade policy.
Can the rally hold, or has copper run too far too fast?
Read the full blog: Copper Hits Record High: Can the Historic Rally Last?