Copper’s Record Highs Back in Focus as Markets Bet on Long-Term Supply Tightness

Published: May 19, 2026 09:11

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As copper prices continue reaching new all-time highs, markets are revisiting previous commodity supercycle rallies. Analysts said the current surge is being driven not only by AI infrastructure, power-grid expansion, and clean-energy demand, but also by structurally constrained mine supply and tightening global supply chains. Unlike earlier rallies led mainly by Chinese construction demand, this cycle is increasingly tied to energy transition and strategic resource security. Industry participants now see copper evolving from a traditional industrial metal into a critical strategic asset.

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