Copper hits record high as tin price also reaches new peak

Copper rose to a record $13,310 per ton on the London Metal Exchange as gains extended early in 2026, while tin also reached a new high of $52,495 per ton amid demand forecasts and supply concerns.

Copper reached a new all-time high on Wednesday as demand forecasts and supply concerns supported price gains. The London Metal Exchange recorded copper at $13,310 per ton in early trading before prices pulled back. Copper finished 2025 with a gain of over 40% and has risen about 6% in the first two weeks of 2026 as sectors like artificial intelligence and renewable energy drive demand. Tin also surged, setting a fresh peak amid strong investor interest. Key details: - LME copper hit $13,310 per ton during early trading before easing. - Copper rose more than 40% in 2025 and about 6% in the first two weeks of 2026. - Supply concerns and geopolitical uncertainties are cited as factors supporting higher copper prices. - Goldman Sachs said in December it expects LME copper to surpass $15,000 a ton by 2035 but also forecast a possible short-term consolidation and a potential dip this year. - Tin climbed as much as 6% to $52,495 per ton in London and is reported to be close to a 30% gain since the start of the year. - Tin stockpiles in LME-tracked sheds rose to their highest level in 11 months, and futures have been trading at a premium to spot prices, which the report noted as indicating near-term supply remains plentiful. Summary: The rally pushed major base metals toward multi-year highs, supported by demand from computing, data centres, AI and green-energy sectors and by ongoing supply concerns. Analysts cited longer-term demand drivers alongside the possibility of short-term consolidation; further price direction is undetermined at this time.