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Copper hit a record $13,000/tonne in late 2025 due to supply cuts, tariff fears, and strong green energy demand.
Copper prices hit record highs in late 2025, reaching nearly $13,000 per tonne on the LME, driven by supply disruptions at major mines in Indonesia and Chile, fears of U.S. tariffs on refined copper imports, and a rush to ship metal ahead of potential trade restrictions.
The surge, fueled by strong demand from electric vehicles, data centers, and renewable energy projects, coincided with U.S. Federal Reserve rate cuts and a weakening dollar.
Global inventories declined, particularly in London and Shanghai, while U.S. COMEX stocks rose, creating regional tightness.
Prices climbed over 35% for the year, marking the strongest annual performance since 2009, though analysts warn of potential volatility as supply stabilizes and tariffs are reconsidered.
El cobre alcanzó un récord de 13.000 dólares por tonelada a fines de 2025 debido a los recortes de suministro, los temores arancelarios y la fuerte demanda de energía verde.