Copper surges to $11,000 per tonne, highest level in 16 months, raises hope of improved earnings for Zambia, others

Copper prices surged to $11,000 a tonne on Thursday — the highest level in more than 16 months — amid growing concerns over supply shortages following disruptions at key mining operations.

According to Reuters-lme-copper-hits-11000-ton-first-time-since-may-2024-2025, benchmark three-month copper on the London Metal Exchange (LME) rose 3.1 percent to touch the $11,000 mark, coming within reach of its all-time high of $11,104.50 set in May 2024, before easing to $10,970 as of 13:36 GMT.

The red metal has gained over 21 percent so far in 2025, driven by robust demand, a weaker dollar, and declining interest rates.

The rally accelerated further after a series of production setbacks at major mines, including a recent mudslide at the Grasberg mine in Indonesia.

“The market is seeing outside investment and doesn’t have much experience of the power of it,” Reuters quoted Alastair Munro, senior metals strategist at broker Marex, as saying on Friday.

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