Copper Hits ATH as China's 2026 Outlook Ignites Rally

Published: Dec 9, 2025 09:51

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On December 8, 2025, LME copper futures surged 1.3% to hit an all-time high of $11,771 per ton. The rally was ignited by China's Politburo meeting, which declared "stable growth" as the top priority for 2026 and signaled a more proactive fiscal stance for power grid and computing infrastructure upgrades than investors expected. Concurrently, a mass exodus of metal into the US to hedge against anticipated tariff expansions is draining global liquidity, creating a severe squeeze on available spot material.

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