The copper market is currently hotter than ever, primarily due to the rapidly increasing demand from megatrends such as electric mobility and other technological developments. Copper plays a crucial role as an indispensable raw material for batteries, electric motors, and numerous other applications in the modern technology sector.
Current Market Situation
- The copper price reached new highs in 2025. In June 2025, the price on the Comex rose to over $11,300 per ton, while it ranged from about $8,600 to over $10,000 per ton on the London Metal Exchange (LME).
- The price difference between the USA and London is around $1,500 per ton, which is also influenced by potential import tariffs in the USA.
- Analysts expect the LME copper price to rise further to about $10,050 per ton by August 2025, before anticipated import tariffs of 25% in September could lead to a decline.
Reasons for High Demand
- Electric Mobility: Electric vehicles require large amounts of copper for batteries and electrical systems.
- Energy Transition: The expansion of renewable energies and infrastructure also requires a lot of copper.
- Technology Trends: New technologies in electronics and industry are further increasing the demand.
Supply Problems
- Despite a global supply surplus, there are regional supply bottlenecks.
- Production failures due to bottlenecks in natural gas and electricity threaten extraction.
- Physical inventories at the LME are collapsing, which further tightens supply.
Forecast for Investors
- In the short term, high volatility is expected; prices may continue to rise or be dampened by tariffs.
- In the long term, experts predict a significant price increase by 2030, with prices ranging from about $10,700 (base scenario) to over $14,300 (optimistic scenario).
For investors, this means an attractive opportunity: The combination of growing demand from promising sectors and a tight supply creates an environment with potential for value increases in the copper raw material.
In summary, the copper market is currently driven by strong demand, largely determined by technological megatrends – particularly electric mobility – while simultaneously, supply is under pressure, resulting in high prices and significant interest from investors.