Global copper prices jumped to a record level of around $13,000 per ton following a strike at a major copper mine in Chile, the world’s top copper producer.
The work stoppage disrupted supply at a time when global inventories are already low, intensifying concerns over availability. Strong demand from construction, renewable energy, electric vehicles and power infrastructure has further supported prices.
Market analysts say fears of prolonged supply shortages are driving the rally, with any delay in mine operations likely to keep prices elevated.
The surge highlights growing pressure on industrial metal markets worldwide.