Copper nears record at $13,600 in Shanghai as supply tightens
Copper is getting pricier and is close to hitting an all-time high, with most major metal contracts rising on the London Metal Exchange.
The big reason? It's less about global drama and more about simple supply and demand.
On Monday, copper reached $13,600 a ton in Shanghai.
Copper inventories shrink amid China demand
There just isn't enough copper to go around, inventories are shrinking, and demand is strong, especially from China.
In April 2026, China's exports jumped 14%, boosted by clean-tech products that need a lot of copper.
Even metals like aluminum and nickel saw price bumps (0.6% and 1.6%) on Monday.
Supply concerns trump geopolitics for copper
Even with ongoing tensions like the U.S.-Iran situation or worries over shipping routes, experts think copper will stay strong because it's so important for energy tech and defense industries.
For now, it looks like the market cares more about supply than world politics.