How much has copper increased in last 1 year?

 How Much Has Copper Increased in the Last 1 Year? — A Detailed Price Analysis (2025–2026)

Copper prices have been one of the most talked-about themes in global commodities markets. In the past year, the metal has surged sharply — reaching record or near-record levels — driven by a combination of strong global demand, supply constraints, speculative flows, and broader macroeconomic dynamics.

Let’s explore how much prices have risen, why this has happened, and what it means going forward.

---

📈 1. Price Change Over the Last Year (2025–2026)

According to commodity price data and recent market reporting:

Global Price Movement

• Copper has jumped nearly 60% over the past year when measured on major international markets (like COMEX/LME).

• For example, copper touched over $6.06 per pound on the COMEX in early January 2026 — compared with about $3.80 per pound a year earlier. This represents roughly a +59.6% increase year-on-year.

Record Highs

• On the London Metal Exchange (LME), copper prices have exceeded $12,000–$13,000 per metric tonne, levels rarely seen before.

In Indian Markets

• Domestic copper futures — such as on MCX — also reflected the rally, with prices exceeding ₹1,390/kg by late December 2025 and remaining elevated into early 2026.

In summary:
➡️ Copper has risen ~55–60% over the last 12 months — a rally that ranks among the strongest in recent commodity cycles.

---

📊 2. Why Copper Prices Rose So Sharply

Copper’s strength isn’t due to a single factor — it’s the combination of structural demand growth and tightening supply, amplified by macroeconomic and market forces:

---

🔹 A. Strong Demand From Electrification & Technology

Copper is essential in:

• Electric vehicles

• Renewable energy infrastructure

• Grid expansion

• Data centers (especially AI-related growth)

These sectors are expanding rapidly, especially in China, India, and developed markets — causing structural demand growth that outpaces existing supply.

---

🔹 B. Supply Constraints and Production Headwinds

Mining production has lagged due to:

• Operational setbacks at major mines

• Lower ore grades

• Environmental and regulatory delays

• Strikes or incidents disrupting production

This has created a global supply tightness, with inventories remaining low and deficits reported in 2025.

---

🔹 C. Macro Tailwinds and Financial Dynamics

Several broader market conditions supported the rally:

✔ Lower interest rates and weaker U.S. dollar:
These conditions make commodities more attractive and reduce the opportunity cost of holding raw materials.

✔ Policy-driven stockpiling:
Concerns over future tariffs, especially on refined copper imports into the U.S., led buyers to accumulate copper in warehouses, tightening available supply outside the U.S.

These factors boosted prices beyond what pure physical demand might otherwise warrant.

---

📉 3. Historical Context — How Unusual Is This Rally?

Looking at longer-term data:

• Historically, copper prices have generally fluctuated between $8,000–$10,000/tonne in recent years.

• The move above $12,000–$13,000/tonne in 2025–2026 represents one of the biggest percentage gains in decades — a bigger rise than seen in many years of normal industrial demand cycles.

• One trader note suggests this was the biggest annual gain since the global rally of 2009.

---

📌 4. Regional Price Trends

🇺🇸 Global Benchmarks (COMEX/LME)

• Prices touched ~$6.06 per lb (~$12,853/tonne) in early January 2026 — a nearly 60% year-on-year increase.

🇮🇳 Indian Market

• MCX copper futures exceeded ₹1,390/kg in late 2025, reflecting both global price strength and domestic demand pressures.

---

📌 5. Main Drivers Behind the Price Increase

Here’s a deeper look at what pushed copper prices up:

📍 Structural Demand Growth

Industries like EVs and renewable energy need far more copper than traditional infrastructure — potentially several times more per unit of output.

Electric grids, solar and wind farms, and EV charging stations add massive copper demand that didn’t exist a decade ago.

---

📍 Tightening Supply and Investment Lags

Mining new copper is slow and expensive. It can take 10–15 years to bring a new copper mine online — meaning supply often lags demand by years.

Frequent disruptions, falling ore grades, and regulatory constraints have further slowed production growth.

---

📍 Trade Policies and Stockpiling

The fear of import tariffs into major markets (e.g., the U.S.) encouraged stockpiling — especially on COMEX — which tightened physical availability elsewhere. This drove prices higher on exchanges like LME where supply became scarcer.

---

📍 Macro Economic Tailwinds

A weaker U.S. dollar and easier financial conditions around mid-2025 made commodities like copper more attractive to investors and hedgers.

---

🔍 6. What This Means for the Future

Experts differ on whether prices will keep rising:

💡 Bullish Views

• Continued electrification and AI-related infrastructure will keep demand strong.

• Supply deficits are likely to persist unless new mines come online rapidly.

📉 More Neutral Views

• Some analysts (like Goldman Sachs) expect prices to ease somewhat in 2026 from their record highs as some supply constraints ease and demand growth varies.

---

🧠 Key Takeaways

Aspect	2025–2026 Trend
Year-on-year increase	~55–60% rise in global copper prices
Peak prices	Above $12,000–$13,000 per tonne global benchmarks
Primary drivers	Supply tightness, structural demand growth, macro conditions
Future outlook	Mixed — potential easing vs. continued structural demand

---

📌 Conclusion

Over the past year, copper has appreciated dramatically — rising roughly 55–60% in price across major global markets and local exchanges. This surge reflects a powerful combination of structural demand, supply constraints, macroeconomic support, and market behavior. While some analysts forecast a plateau or moderation, the fundamental drivers of demand — electrification, renewable energy, and digital infrastructure — remain strong.

Copper’s performance stands out as one of the major commodities stories of the last year — earning its nickname as a barometer of global economic and industrial health.