An annual increase of over 40%: after gold, silver and aluminum, the price of copper has recorded its strongest increase since 2009

Copper is on track for another record year in 2025: the red metal has far surpassed its 2024 price record, reaching a new high of $12,690 per ton on Monday on the LME, the London Metal Exchange. On Wednesday afternoon in Paris, copper was also trading at $12,421.50 and is heading for an annual increase of over 40%. This represents the strongest rise since 2009, which benefited from the economic recovery following the subprime mortgage crisis.

This year, "red gold" was driven in particular by increased demand in the electrical circuits market, which is benefiting from the energy transition, defense spending, and increased demand for data center construction due to the rise of artificial intelligence. This upward trend was amplified by incidents at major mines in Indonesia and Chile, limiting ore production.

The United States is stockpiling its stocks.

US tariffs on semi-finished products have not destabilized this upward trend. Nevertheless, investors fear that President Donald Trump will also impose tariffs on refined copper.

"The United States excluded refined copper from the 50% import tariffs that came into effect in August, but has kept it under review," and the market is awaiting "the announcement of US tariffs on copper in mid-2026," notes J.P. Steiner, an analyst at ADM Investors Services.

With American production insufficient to meet domestic demand, the US imports copper, and its warehouses are filling up because the metal trades at a higher price in the United States than elsewhere, "which has tightened supply elsewhere in the world," notes J.P. Steiner. "A record 60% of all visible stocks monitored by exchanges are now concentrated in American warehouses, while the United States accounts for less than 6% of global demand," also noted Ole Hansen, an analyst at Saxo Bank, in early December.

According to Morgan Stanley analysts, global copper stocks are currently sufficient to meet global demand, but this could exceed supply by approximately 600,000 tons in 2026, potentially leading to shortages and a sharp rise in copper prices next year. (Source: Bfmtcv.com)

COPPER CAST BARS

Germania Mint presents its latest original investment product – Copper Cast Bars.

There is a reason we chose this semiprecious metal in particular. Already the ancient inhabitants of Germania made peculiar ornaments and tools out of copper, which often ended up in their graves after death.

Pure copper is orange-red in color and darkens as it naturally oxidizes, retaining its properties. Since the metal is highly malleable, it looks phenomenal in the form of cast bars from Germania Mint. For their production, we source 999.9 copper grain directly from KGHM – the largest producer in the region.

The bars are double-protected with individual numbers and coded holograms, which can be verified in Germania Mint’s product database. To protect them from external conditions, they are individually vacuum-packed and placed in specially designed boxes.