Copper Prices man

Copper prices averaged USD 14,331 per metric ton in August, up 5.8% from July. On 31 August, the commodity traded at USD 14,446 per metric ton, up 4.4% from 31 July.

Copper prices hovered near all-time highs in August. Concerns over future U.S. tariffs led traders to shift the metal to the U.S., draining inventories elsewhere, while an Indonesian smelter closed for repairs in the month. Moreover, mined supply from Chile—the world’s top copper producer—has tumbled so far this year, partly due to worsening ore grades. Finally, underlying demand drivers were likely supportive, given copper’s importance in power transmission, data centers and renewables.