UK (Parliament Politics Magazine) – Copper prices surged more than 35% in 2025 amid global supply concerns, hoarding in the US and China, and rising demand for clean energy infrastructure.
As reported by Phillip Inman of The Guardian, copper is on track for its biggest annual price increase in over 15 years amid fears of limited global supply.
How did copper prices surge over 35% in 2025?
Copper, central to the growing renewable energy sector and the “electrification of everything,” has increase over 35% this year, fueled by US tariff uncertainty and mining disaster worries.
Experts said copper has joined silver and gold as a safe-haven asset for investors seeking protection against the dollar’s declining value.
The price of silver reached a record on Monday, driving the value of Mexican miner Fresnillo, listed on the London Stock Exchange, to its highest level this month.
The value of gold has surged past $4,400 an ounce, marking an increase of more than 70% since early January.
According to Kyle Rodda of Capital.com, the rise in copper, gold, and silver reflect broader market scarcity and investor demand.
She said,
“A world marked by greater scarcity and investors’ desire to get their hands on things with relatively limited supply.”
In December, copper prices rose above $12,000 a tonne, recording their largest jump since the global recovery following the 2008 financial crisis.
Earlier this year, American companies accelerated copper purchases after US President Donald Trump’s warning of further tariffs on metal imports. Although the tariffs were suspended, hoarding has limited supply worldwide and pushed global copper prices higher.
China has prioritized securing supplies, which has contributed to rising prices. Jiangxi Copper, a state-owned firm, announced on Christmas Day that it had bought all shares of London-listed SolGold, securing control of the Cascabel gold and silver mine in Ecuador.
Goldman Sachs analysts said earlier this month that copper prices are expected to stabilise, after reports showed sufficient supply to meet global demand.
Fears are growing that short-term hoarding in China and the US, combined with rising copper demand over the next two decades, may strain supply amid the global shift to renewable energy like wind and solar.
Several mining operations have been forced to close after accidents. Freeport-McMoRan, a US-based miner, said a deadly mudslide at its Grasberg copper and gold mine in Indonesia has halted its ability to fulfil contracts.
What did Charu Chanana say about investor trends in precious metals?
Charu Chanana, Saxo Bank’s chief investment strategist, said expectations of US interest rate cuts and hedging against geopolitical and fiscal risks have supported precious metals this year.
She added,
“The big picture, however, for precious metals still looks structurally supportive with easier rates ahead, persistent fiscal and geopolitical unease, and ongoing diversification demand. That means any pullbacks may be seen as opportunities for long-term investors to rebuild exposure — though timing could still be bumpy after such a strong run.”
What are the global prices of copper, gold, and silver?
According to global market data, copper price is $5.53 per pound, after a significant upward trend driven by supply concerns and demand from electrification technologies.
Gold is trading at $4,332.53 per troy ounce, experiencing a pullback after reaching record highs, but it remains on track for its strongest annual gain in decades.
Silver is priced at $71.28 per troy ounce, retreating from a record high but still reflecting a significant year-over-year increase.
