Copper prices reached an all-time high of $13,310 per ton on the London Metal Exchange on January 11, 2026, driven by positive demand forecasts and ongoing supply concerns. This marks a 6% increase just two weeks into the year, following a 40% gain in 2025, fueled by growth in sectors like artificial intelligence and renewable energy.
In addition, tin prices surged by 6% to $52,495 per ton, nearing a 30% increase since January 1. This spike is attributed to heightened demand from the computing sector and increased investments in AI and data centers, despite a lack of physical tightness indicated by rising stockpiles. Recent trading volumes on the Shanghai Futures Exchange hit a daily record, further propelling tin’s upward momentum.
Goldman Sachs projects that LME copper could surpass $15,000 a ton by 2035 due to long-term demand for green energy and supply constraints, although a short-term consolidation period may occur this year.
