Metals like gold and silver have seen record highs, but copper is also surging with prices up 35% this year. Global copper prices surpassed $12,000 per ton for the first time. Copper isn’t influenced by sentiment like gold and silver, instead reflecting physical growth. It’s known as the economy’s barometer, with rising prices signaling strong industrial demand.

Copper’s surge is due to supply challenges in major producing regions like Chile and Indonesia, leading to a global shortage. Tariffs on copper imports and heavy AI sector investment are also driving up demand. JPMorgan expects prices to hit $12,500 per ton in Q2 2026. Long-term implications remain uncertain.

Gold is a safe-haven asset, silver serves both investment and industrial purposes, but copper is mainly industrial. A tight market, supply challenges, and tariffs are pushing copper prices higher. Experts are optimistic about continued price growth but remain cautious about long-term effects.

JPMorgan Research expects copper prices to reach $12,500 per ton in Q2 2026, averaging $12,075 for the year. The complex dynamics of global trade and commodity markets are highlighted by the intersection of tariffs and copper prices. The long-term consequences depend on how markets, governments, and industries adapt.

Read more at Yahoo Finance: Copper prices are soaring. Here’s what that often signals for the economy.