Copper Approaches Record High in Commodity News 07/05/2026 Copper futures in the US rose to over $6.1 per pound on Wednesday, the highest the highest since reaching a record-close of $6.2 on January 29th as energy prices sank and improved the outlook on demand for manufacturing. The US stated it submitted a memorandum to end the war with Iran and threatened new attacks should peace not be accepted. The US added that it will facilitate energy supply through the Hormuz chokepoint immediately should the agreement be reached. The conflict had also disrupted inputs for copper giants since March. Top producer Chile faces supply risks as the conflict disrupted sulphur flows to China, prompting Beijing to curb exports of sulphuric acid, an input critical to nearly half of Chile’s copper refining capacity. On top of that, major tech companies continued to sign agreements that exponentially increase datacenter construction, supporting the outlook for copper due to its utility in electrification and grid technology. Source: Trading Economics 2026-05-07 hellenicshippingnews... tweet Share