Copper prices rise to record levels
LONDON, 5 JANUARY / WAM / Copper prices continued to rise during today’s trading on the London Stock Exchange, rising to a record high, exceeding $13,000 per metric ton, amid mounting fears of a global supply shortage.
Recent unrest in Venezuela, a supplier of the metal, also reflects growing pressures on markets, increasing the race by countries and companies to secure vital minerals essential for the electrical and infrastructure industries.
This rise comes according to the “Mining” platform, which specializes in metals, after copper prices increased by about 40% over the past year, supported by expectations of strong growth in demand, especially from data centers related to artificial intelligence technologies, and the electric car industry, as copper is an essential element in power cables and electrical infrastructure.
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