Copper prices hit record high of US$ 6.59 per pound

Copper prices reached a historic high of US$ 6.59 per pound on the London Metal Exchange (LME) on August 14, 2026. This represents a daily increase of 1.82% and a year-to-date rise of approximately 39.3% compared to the same period in 2025.

According to Cochilco, the price surge was driven by supply constraints and tightening inventories, including a 1.32% daily drop in LME stocks. Financial support also came from the United States, where lower inflation data reduced expectations for interest rate hikes.

However, market volatility remains due to economic signals from China, where a decline in automobile sales and a contraction in new bank loans suggest weak credit demand. In the mining sector, production outlooks have been adjusted; Antofagasta Minerals reduced its 2026 production guidance following extreme weather at Los Pelambres, while BHP anticipates lower output at Escondida due to declining ore grades.