Record-Breaking Surge in Copper Futures

US copper futures experienced an unprecedented surge, reaching an all-time high on Tuesday. This remarkable increase was driven by growing concerns over potential tariffs from the Trump administration and unexpected supply disruptions in Chile.

Behind the Scenes: What's Fueling the Rise?

On New York's Comex exchange, prices soared to $5.2055 per pound, eclipsing the previous record of $5.199 set in May 2024. The catalyst for this spike was the announcement that Glencore Plc had temporarily stopped shipments from its Altonorte smelter in Chile due to furnace malfunctions.

Market Reaction and Current Status

By 9:45 am ET on March 25, copper futures for May had climbed by 2.17%, trading at $5.2075 per pound, signaling strong market volatility and investor interest.