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Report shows copper prices could break through US$15,000 for the first time as soon as this week, analysts say according to Reuters.
This is as a result of investors positioning themselves for another round of US economic data and President Donald Trump keeps the market guessing on import tariffs.
Benchmark copper on the London Metal Exchange hit an all-time peak of US$14,779 tonnes, climbing for a fourth straight session as the rally showed no sign of slowing.
“Will it get to US$15,000 this week on Trump’s tariff confusion? Sure, that’s possible,” said Panmure Liberum analyst Tom Price.
Read more: Read more: Kwacha gains as copper prices surge above $14,000
“You can pick any big number when there’s this much speculative capital behind a trading idea,” Price said.
The US has proposed a 15 percent tariff on refined copper imports from the start of 2027, rising to 30 percent in 2028, but has neither confirmed nor ruled out a duty.
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