Copper could hit ‘stratospheric new highs’ as hoarding of the metal in U.S. continues
Copper prices have soared this year, hitting multiple record highs, fueled by supply disruptions and as fears over U.S. tariffs have led to a surge in demand. ... The brokerage sees copper hitting $13,000 per ton in early 2026, and even $15,000 by the second quarter of next year.
Similarly, Avatar Commodities CEO Andrew Glass sees copper prices hitting “stratospheric new highs,” especially as physical hoarding in the U.S. continues to erode international availability.
The current rally reflects a “highly irregular distortion,” driven primarily by anticipation of tariffs rather than traditional supply-demand fundamentals, he said.. ..
Because copper prices in the U.S. are higher than elsewhere, traders have a strong incentive to ship large amounts of copper into the country, ....