Copper prices surged to a new record high on Monday, driven by growing optimism over the U.S. economy and renewed expectations for Chinese stimulus, which boosted industrial metals across the board.
On Dec. 11, three-month copper futures on the London Metal Exchange jumped as much as 2.1% to $11,800 per metric ton, marking the highest price ever recorded.
According to Mining.com, the latest rally followed the Federal Reserve’s decision to raise its U.S. growth projections. The Fed now expects the U.S. economy to expand between 1.8% and 2.3% next year, signaling steady and resilient momentum despite broader global uncertainty.
Stronger growth expectations have lifted sentiment around copper demand, given the metal’s central role in manufacturing, power infrastructure and electronics. Analysts say accelerating investment in clean-energy technologies — including electric vehicles, renewable energy and grid upgrades — continues to reinforce the long-term demand outlook.
Copper prices have already climbed roughly 35% this year, supported by firm demand and concerns over supply disruptions. Traders say the rally has gained additional momentum from China, the world’s largest consumer of industrial metals.
On Dec. 8, China’s Politburo signaled that more expansionary fiscal and monetary policies are planned for next year, raising hopes that Beijing will step up efforts to stabilize growth.
Market strategists note that the combination of a stronger U.S. outlook and the prospect of further Chinese stimulus has created a powerful tailwind for copper — and could keep prices elevated heading into 2026.
