By John Chola
Copper prices have surged to a record high, surpassing $11,000 per ton due to a combination of increased demand and constrained supply.
This spike is driven by several factors, including the growing demand from the electric vehicle and renewable energy sectors, which rely heavily on copper for their infrastructure.
Additionally, supply issues have exacerbated the price increase.
Mining disruptions and delays in the development of new mining projects have contributed to the tightening supply.
Analysts from Goldman Sachs and Citi predict that this trend will continue, with potential further increases in copper prices expected in the coming years.
