LME News & Analysis
3 articles
Market Mood
Copper Spot Premium Reaches $478 Per Ton: Impact on Bitcoin Miners
The LME copper spot premium hit $478 per ton over the three-month contract, marking the widest level since 2021. LME inventories have declined for 42 consecutive days, falling to 204,975 tons, with nearly half scheduled for withdrawal. Copper prices have increased nearly 16% this year, reaching $14,360.50 per ton, close to January's record of $14,527.50. These rising costs could increase infrastructure expenses for Bitcoin miners, affecting their expansion efforts due to the reliance on copper for electrical infrastructure. This matters for investors as higher copper prices could impact the profitability of Bitcoin mining operations.
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Copper Futures Reach Record High of $6.90 per Pound
U.S. copper futures surged to a record high of approximately $6.90 per pound on Thursday, reflecting constrained supply and high demand driven by electrification rather than traditional economic growth. Key factors behind the price increase include weak mine supply growth, particularly affected by disruptions in Chile due to adverse weather, as well as potential U.S. tariffs impacting copper imports. In the first half of 2026, China's grid investment rose by 13% year over year, with a plan to invest around $574 billion in power grid upgrades further supporting demand. This matters for ordinary investors as elevated copper prices can indicate shifts in supply and demand dynamics that could affect related sectors.
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Copper Futures Drop 1.3%, Rebound 0.5% Amid Inflation Fears
Copper futures for August delivery fell by 1.3% on the London Metals Exchange before recovering 0.5% to $13,477 per ton. This price fluctuation is significant as it reflects the volatility in industrial metals due to mounting inflation fears, impacting global bond markets. Similar patterns were observed in aluminum, nickel, tin, and zinc, with various analysts noting potential risks primarily stemming from supply and demand imbalances. The outlook for these metals remains uncertain as operational costs and economic factors continue to weigh heavily on their markets.
Read More: Copper Futures Drop 1.3%, Rebound 0.5% Amid Inflation Fears