TradingKey – International copper prices have continued to strengthen recently. As of August 21, London Metal Exchange copper prices briefly rose to $14,363 mid-week, just shy of the all-time high of $14,521. Meanwhile, Freeport-McMoRan (FCX), Southern Copper (SCCO), BHP (BHP), and other copper mining stocks strengthened in tandem.

Copper Price Weekly Chart, Source: TradingView

The core driver behind this round of copper price gains lies in the continuous momentum on both the supply and demand sides. On the supply side, Congo’s restrictions on copper concentrate exports, supply disruptions at mines and smelters, and declining inventories are tightening the spot market; on the demand side, AI data centers, power grid upgrades, and…