Copper is set for its biggest annual gain since 2009, with prices surging over 40% on the London Metal Exchange this year. Traders have rushed to ship copper to the US ahead of potential tariffs, tightening availability. Recent accidents at major copper mines have further strained supply.

Despite China’s weak demand due to a property market downturn, global copper demand is expected to grow significantly in the long term. Factors like the shift to cleaner energy sources and the rise of electric vehicles will continue to drive demand. Prices hit a record high of $12,960 per ton on Monday.

Read more at Yahoo Finance: Copper Set for Biggest Annual Gain Since 2009 on Supply Bets