London copper futures closed on Friday near an all-time high, at approximately $14,622 per ton. Théa Ziegler, a member of UBS's US Equity Advisor Sales team, reiterated in a Friday report that copper is "one of our highest conviction commodity themes," expecting demand growth from electrification and data center construction to continue outpacing supply growth, supporting a structural upside for copper prices. Meanwhile, Natalia Corfield, JPMorgan Chase's Head of Latin America Corporate Credit Research, noted this week that a strike has broken out at Chile's Centinela copper mine. According to Bloomberg, if the strike continues, the mine could begin cutting copper production in approximately two weeks. Daniel Ghali, Deutsche Bank's Head of Metals Research, warned last month that global copper inventories had fallen to "unprecedented lows" and raised his Q2 2027 target price for LME copper to $22,050 per ton.