Copper Hits a Fresh Record High of $6.71 a Pound on Comex as London Exchange Stocks Fall 14 Percent

Comex September copper futures in the United States closed up about 1.6 percent on Tuesday, August 25, 2026 (3 Shahrivar 1405), settling at $6.71 a pound, the highest closing level on record. According to Arzdigital, London Metal Exchange copper inventories have fallen about 14 percent since late July 2026 to 214,550 tonnes, with a second straight quarterly cut to Chile's production forecast and a halt at the Grasberg smelter in Indonesia cited as factors behind the tightening supply.

Per TradingEconomics, copper eased slightly by 0.21 percent from the prior day to $6.70 on Wednesday, August 26, after touching an all time high of $6.83 earlier in August; the metal is up more than 51 percent from a year earlier. Analysts point to concerns over a weaker US dollar and supply constraints as the main drivers of the rally.