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Base Metals preview: COMEX copper surges to hit new record high
13-May-2026 09:12

COMEX copper surged to a record high on Wednesday morning in Asia driven by severe supply shortages, geopolitical tensions in the Middle East, and intense demand for AI-driven data center construction and energy infrastructure. The red metal has been on a relentless rally for the past one week and is currently quoting at $6.65 per pound, up 1.45% on the day. Meanwhile, the major averages on Wall Street climbed well off their worst levels of the day, with the Dow reaching positive territory.

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