Copper on pace for best year since 2009 as AI demand, supply fears fuel record price rally
Analysts say copper's record-breaking run could continue next year, citing supply disruptions and masssive spending on artificial intelligence.
TL;DR
- Copper prices have reached record highs, trading around $12,405 per metric ton.
- Analysts predict the rally will continue into next year, driven by AI spending and supply disruptions.
- Copper is crucial for renewable energy, electric vehicles, and data center infrastructure.
- The benchmark contract is on track for its best year since 2009.
- JPMorgan forecasts average prices of $12,500 per metric ton in Q2 2026 and $12,075 through 2026.
- Goldman Sachs Research expects prices to range between $10,000 and $11,000 in the first half of 2026, with a long-term projection of $15,000 in 2035.