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Copper prices hit record highs amid supply deficits and rising demand
Copper prices have reached historic highs, with three-month futures on the London Metal Exchange hitting a record of $14,703 per tonne in September 2026. This surge is driven by a structural market deficit caused by declining ore grades and rising demand from electrification, renewable energy, and AI data center infrastructure.
In the corporate sector, Antofagasta reported strong first-half 2026 results with revenue increasing 18 percent to $4.48 billion and EBITDA rising 27 percent to $2.8 billion. However, the company's stock faced pressure following a significant reduction in its 2026 copper production guidance.
The price rally has major implications for Andean economies; high copper values support national budgets in Chile and Peru. Meanwhile, in India, Vedanta Limited is positioned to benefit from rising domestic demand, which is projected to grow significantly through 2047. Market tightness is further evidenced by a roughly 40 percent drop in LME registered stocks since late May.
Entities
Antofagasta · Chile · International Copper Study Group · International Energy Agency · London Metal Exchange · Peru · Shanghai Futures Exchange · StoneX · Vedanta Limited
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Vedanta Limited holds approximately a 23 percent share of primary copper production in India smestreet.in
- [○ 1 SOURCE] Copper value has increased by over 40 percent since October of the previous year www.cnbce.com
- [○ 1 SOURCE] A potential supply shortage could reach 30 percent of requirements by 2035 without sufficient new investment www.energetika.ba
- [● 2 SOURCES] Copper prices have increased by more than 16 percent since the beginning of 2026 www.cnbce.com · smestreet.in
- [○ 1 SOURCE] Copper mine production decreased by 1.1 percent during the first half of the year www.energetika.ba
- [○ 1 SOURCE] Global copper demand is projected to rise from 28 million metric tons in 2025 to 42 million metric tons by 2040 seekingalpha.com
- [○ 1 SOURCE] LME registered copper stocks have decreased by approximately 40 percent since late May. smestreet.in
- [○ 1 SOURCE] Antofagasta's EBITDA rose by 27 percent to approximately 2.8 billion USD in the first half of 2026. www.it-boltwise.de
- [○ 1 SOURCE] Copper reached a record price of US$14,533 per tonne on 7 September 2026. www.riotimesonline.com
- [○ 1 SOURCE] Antofagasta reported an 18 percent increase in revenue to approximately 4.48 billion USD in the first half of 2026. www.it-boltwise.de
- [○ 1 SOURCE] Antofagasta lowered its copper production guidance for 2026. www.it-boltwise.de
- [○ 1 SOURCE] Copper three-month futures reached a record of $14,703 per tonne on the London Metal Exchange. smestreet.in