Copper prices surged to record levels above 14,000 dollars per metric ton on January 30 as strong industrial demand and supply constraints tightened global markets. Analysts cited rising consumption from renewable energy projects, electric vehicle manufacturing, and infrastructure development as key drivers.
Mining disruptions and limited new production capacity have added pressure to supplies, reinforcing upward price momentum. Traders reported heightened activity across major commodities exchanges as manufacturers sought to secure future deliveries.
Economists warned that sustained high prices could increase costs for construction and manufacturing sectors worldwide. However producers welcomed the rally, noting improved revenues after years of volatile pricing.
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