US and China AI demand drives copper prices to near-record highs

August 3, 20261 Mins read34

Commodities

Inventories outside the US drop as American buyers rush to beat potential tariffs

A train loaded with sheets of copper cathode is seen at a copper mine in Antofagasta, Chile. © Reuters

TOKYO — The global price of copper is rising to near-historic highs due to a surge in demand in the U.S. and China for a metal indispensable to artificial intelligence infrastructure.

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