Copper prices continue to rise on the first trading day of 2026 amid expectations of tightening supply

According to Golden Ten Data on January 2, copper prices rose on the first trading day of 2026, following the largest annual increase since 2009 driven by expectations of tightening supply. On Friday, this "red metal" strengthened again after falling 1.1% in the previous trading session. In 2025, copper prices on the London Metal Exchange (LME) rose by a total of 42%, mainly supported by disruptions in mine supply and concerns related to tariffs. These factors prompted traders to accelerate copper shipments to the United States, resulting in tighter market supply in other regions. In a strong rally at the end of the year, copper prices repeatedly hit record highs, making it the best-performing variety among the six major industrial metals on the LME. In addition to the capital and physical flows triggered by tariff factors, accidents at several mines from Indonesia and Chile to the Democratic Republic of Congo in 2025 led to limited output, further pushing up copper prices.