London Copper Futures Hit Record High Above $14,530 Per Ton

London Metal Exchange (LME) copper futures surged over 1% on September 7, briefly exceeding $14,530 per ton to reach a new all-time high before closing at $14,494. Copper prices have risen 17% year-to-date and 47% over the past 12 months. Analysts attribute the rally to metal shifts driven by tariffs rather than terminal demand. While arbitrage opportunities between New York and London markets have been significant, long-term bullish sentiment remains supported by aging mining infrastructure and supply-demand imbalances.