Copper Hits $11,771 Price Record as Favorable Market Conditions Prevail
This week, the price of a ton of copper briefly reached the unprecedented $11,771 price for each ton of the metal as several factors combined to boost the metal’s price. In the U.S., the Fed lowered its benchmark lending rate by 25 basis points. Such rate reductions weaken the dollar and make dollar-priced commodities more affordable for holders of other currencies. However, the biggest positive signal for the metal came from China. A crucial policymakers’ meeting announced that the top goal for China in 2026 would be economic growth. The meeting vowed to implement a fiscal policy that was “more…