Finance

Copper Price Surge: From $2.09 to $6.76 in Six Years — Why Copper Has More Than Tripled

Copper has surged from around $2.09 to $6.76 per pound, gaining nearly 223%. Here's why AI, electrification, supply constraints and tariffs are driving copper prices.

Copper has delivered a remarkable six-year rally, climbing from around $2.096 per pound in 2020 to approximately $6.7628 per pound in 2026. That represents a gain of roughly 223%, meaning the quoted copper futures price has more than tripled over the period. The surge has been supported by growing demand from electrification, AI data centres, power grids and electric vehicles, alongside concerns about mine supply and global trade policies.