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Copper futures settle higher on Wednesday

14 May 2026 Evaluate
Copper futures settled higher on Wednesday, driven by a massive AI-related demand surge, AI data center construction, and severe global supply constraints. The crisis in the Strait of Hormuz has severely disrupted global sulfur and sulfuric acid supplies, threatening over 4.8 million tonnes of production. This widened the premium of Comex copper over the London Metal Exchange amid expectations that the US will impose tariffs on refined metal imports. Meanwhile, the high-stakes talks between US President Donald Trump and Chinese President Xi Jinping are expected to cover tariffs, rare earths, artificial intelligence, the war in Iran, and Taiwan. 

Copper futures for July delivery rose $0.148 to settle at $6.6790 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.94% at $14,153 a ton.

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