Copper Hits Record Above $14,000 a Ton as AI Boom Drives Demand

Copper broke through $14,000 a ton to a record, up about 14% in 2026, driven by the AI boom.
Data centers and power grids need copper faster than mines can supply it, while U.S. tariff front-running has pulled additional metal into the country. With no cheap substitute available, the combination of a tariff scramble and a supply squeeze has spiked the price of copper without broadly affecting inflation.
The higher costs are expected to add to hyperscaler capital expenditures as the AI buildout becomes more expensive to wire, according to the post.