Copper Prices Soar Past $14,500 a Ton Amid China's Metals Mania
Business
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Moneycontrol•29-01-2026, 22:42
Copper Prices Soar Past $14,500 a Ton Amid China's Metals Mania
- •Copper prices surged by 11% to an unprecedented $14,500 a ton, marking the biggest jump in over 16 years, driven by intense buying from Chinese investors.
- •The rally, primarily fueled by speculative funds during Asian trading hours, saw prices rise over $1,400 a ton before a sharp $1,000 retracement as US markets opened.
- •Despite weak demand indications in China, which consumes half the world's copper, and ample supplies, speculative frenzy has boosted trading volumes on the Shanghai Futures Exchange.
- •The broader commodities rally is supported by a weakening US dollar, increased demand for physical assets, geopolitical tensions, and speculation about a dovish Federal Reserve.
- •Experts like Mark Thompson and Chi Kai foresee continued upward potential, with some predicting $20,000 a ton, especially with US interest-rate cuts and investments in AI and power construction.
Why It Matters: Chinese speculative buying propelled copper to record highs, despite underlying demand concerns, amidst a broader commodities rally.
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