Copper price surpasses $13,253 per ton, reaching a historic high

On January 6, copper prices continued their strong rally, with London three-month copper futures rising as much as 2%, breaking through $13,253 per ton and surpassing the peak set on Monday. Since late November last year, copper prices used for wires and cables have risen by more than 20% in total. The market is concerned that the Trump administration may impose tariffs on refined copper, which could lead to tighter global supply. Previously, Trump had spurred a surge in copper shipments to the United States and decided to exempt refined copper from tariffs, causing related transactions to be suspended for a time. Recently, plans to revisit the tariff issue have made related trade active again.