Copper Rate Today Soars to Record Highs in China as Prices Near 100,000 Yuan, New York Rallies on Supply Fears and Weak Dollar

New Delhi, December 26: Copper prices surged to fresh records across key global markets on Friday, extending a powerful year-end rally as investors wager on tighter global supplies in 2026 and factor in the impact of a weakening US dollar. The sharp move has pushed Copper Rate Today to levels not seen before, underlining the metal’s growing importance in the global commodities cycle.

In China, copper prices jumped as much as 3.7% to approach the 100,000 yuan (USD 14,230) per ton mark on the Shanghai Futures Exchange, hitting that level for the first time. Meanwhile, in the US, copper contracts on the Comex climbed nearly 4% to USD 5.7855 a pound, marking the highest level since an unprecedented short squeeze rattled the market in July. The London Metal Exchange remains shut for the Christmas holiday and is set to reopen on Monday. 

Metals Rally Extends Into Year-End

Copper’s latest leg higher came alongside a broader surge in precious metals, with gold, silver and platinum all rising to nominal all-time highs. December has seen strong gains across the metals complex, capping a volatile year shaped by trade disruptions, geopolitical risks and supply-side shocks.

On the demand front, copper continues to benefit from its critical role in the global energy transition, including electric vehicles, renewable power and grid expansion. These structural drivers have helped make copper one of the standout performers of 2025, with prices in New York up more than 42% so far this year.

Tariff Risks and Supply Concerns Resurface

Earlier in the year, Comex copper prices spiked on expectations that US President Donald Trump would impose tariffs on the metal. While the most widely traded form of copper was eventually excluded, the decision is scheduled for review in 2026. That uncertainty, combined with a sustained flow of copper into the US, has raised fears that buyers in other regions could face supply shortages.

Market participants say these concerns are increasingly being priced in, especially as inventories remain tight and new mine supply struggles to keep pace with demand growth.

Weak Dollar Adds Fuel to the Rally

Another key driver behind the surge in Copper Rate Today is the sharp decline in the US dollar. A Bloomberg index tracking the currency is on course for its biggest weekly drop since June, making dollar-priced commodities cheaper for international buyers and boosting demand.

As of the latest update, copper futures were trading around 98,720 yuan per ton in Shanghai, while Comex copper stood at USD 5.767 a pound. With supply risks and macro tailwinds converging, analysts expect volatility to remain elevated as markets head into 2026.

(The above story first appeared on LatestLY on Dec 26, 2025 03:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).