Summary

• Copper futures rose above USD 6.29 per pound, nearing record highs, supported by expectations of long-term demand from artificial intelligence, power grids, clean energy and electrification.
• Supply concerns are increasing due to disruptions in sulfuric acid availability, China’s export ban and weaker copper production in Chile, which fell by around 6% year on year in Q1 2026.
• The Democratic Republic of Congo could strengthen its role in the global copper market through a major China-backed mining project that may produce 200,000–500,000 tonnes of copper per year.

By Krzysztof Kamiński

Copper futures prices rose above USD 6.29 per pound, approaching the record levels seen at the end of January. The increase is driven by a combination of two factors: expectations of long-term demand growth and

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