Bloomberg <\/p>\n
(Bloomberg) — Copper surged to a record in Shanghai and rallied in New York, adding to substantial annual gains as investors bet on tighter global supplies in 2026, while also pricing in the impact of a weaker US dollar.<\/p>\n
In China, prices gained as much as 4.7% to trade near 100,000 yuan ($14,270) a ton on the Shanghai Futures Exchange for the first time. Futures traded on the Comex in New York climbed as much as 4.2% to $5.8075 a pound, the highest since an unprecedented short squeeze in July. Benchmark trading on the London Metal Exchange will reopen on Monday after the Christmas break.<\/p>\n
Most Read from Bloomberg<\/p>\n
Copper\u2019s latest leg-up on Friday came as precious metals also bolted higher, with gold, silver and platinum all surging to record highs in a powerful end-of-year rally that has dominated global commodity markets.<\/p>\n
<\/p>\n
Metals have made big gains in December, rounding off a year in which trade dislocations, geopolitical uncertainties, and supply shocks have combined to shake up the industry. On the demand side, copper is expected to be a major beneficiary of the world\u2019s energy transition, helping to make it one of biggest winners in 2025, with a gain of roughly 42% in New York.<\/p>\n
Earlier this year, Comex copper contracts spiked to a record in anticipation that US President Donald Trump would impose tariffs. While he ultimately excluded the most widely-traded form of the commodity from levies, that decision is due for a review in 2026. A continued rush of metal into the US has spurred concerns buyers elsewhere may end up scrambling for supplies.<\/p>\n
Prices received an additional lift in recent sessions from a slump in the US dollar, with a Bloomberg gauge of the currency on pace for the biggest weekly loss since June. That shift makes raw materials cheaper for most buyers.<\/p>\n
On the Comex, copper traded up 3% at $5.744 as of 8:24 a.m. in New York.<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"Bloomberg (Bloomberg) — Copper surged to a record in Shanghai and rallied in New York, adding to substantial…\n","protected":false},"author":2,"featured_media":371415,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[7904,28,182218,4794,2005,99436],"class_list":["post-371414","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bloomberg","tag-business","tag-comex-copper","tag-london-metal-exchange","tag-new-york","tag-shanghai-futures-exchange"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/371414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=371414"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/371414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/371415"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=371414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=371414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=371414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}