Record growth in copper prices: what’s happening in the market

Global copper prices surged to their highest levels in more than 16 years in January 2026. The market responded to strong speculative demand from Chinese investors, despite weak real demand in China itself.

This is reported by Bloomberg.

In Asian trading, London Metal Exchange prices rose more than five percent in a short period of time, the biggest one-day market move since the 2009 financial crisis.

The price of copper has exceeded $14,400 per ton. Compared to the beginning of December, the metal has risen in price by about a quarter. Analysts note that the growth is primarily due to active speculative transactions, and not due to increased consumption.

Chinese investors play a key role in this process. They are entering raw material markets en masse, riding the wave of rising prices not only for copper but also for other metals.

Meanwhile, physical demand in China, which consumes about half of the world’s copper, remains weak. Metal inventories do not appear critically low. Meanwhile, futures trading volumes in Shanghai have reached record levels.

An additional backdrop for growth was the weakening of the US dollar, talk of a possible easing of Fed policy, and investor interest in raw materials amid the development of artificial intelligence and energy projects.

At the same time, analysts warn that the current price increase may outpace real demand. They do not rule out a market correction in the near future.

As previously reported, global gold prices reached a new historical high on January 26, exceeding $5,000 per troy ounce for the first time.

Recall that the US dollar is experiencing one of its most difficult years in the last decade, and most investors expect it to weaken further in 2026. Despite the temporary stabilization, the market does not believe in the long-term recovery of the American currency.

Also follow “Pryamim” on Facebook , Twitter , Telegram , and Instagram .