Copper prices surged to a new all-time high on Monday (September 7), with London Metal Exchange (LME) copper hitting $14,617 per ton and Comex copper futures trading at $6.85 per pound. Market expectations of tightening near-term supply and escalating tariffs were the main drivers. Canada on Tuesday (September 8) imposed a 50% tariff on some U.S. imports, including copper products, in response to earlier U.S. tariff policies. JPMorgan Chase analysts expect copper prices to potentially reach $14,800 per ton in the fourth quarter of this year, with potential for an overshoot.