On the London Metal Exchange (LME), the spot price of copper rose 0.6 percent from a new record on Tuesday. This means the price has risen by around 16 percent since the beginning of the year.
The upward trend is also clear in the futures market, with three-month contracts at around $14,410 per tonne, compared with the record high of $14,527.50 per tonne in January.
Other industrial metals are not keeping pace with the rise.
Behind the trend is growing demand for copper as a result of major investments in AI infrastructure. There are also exceptionally large export volumes to the US ahead of expected new US tariffs on the metal. Production setbacks at copper mines are also contributing.
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