Copper prices in London rose by nearly 1% on Friday, starting the new year on a positive note after a strong 2025 in which prices jumped more than 40% to record levels, while aluminum reached its highest level since May 2022.
The three-month copper contract on the London Metal Exchange (LME) climbed 0.9% to $12,537 per metric ton, as trading on the Shanghai Futures Exchange in China was closed due to a public holiday.
Aluminum prices on the London Metal Exchange stabilized slightly after rising to $2,998 per ton, marking their highest level since May 2022 and reflecting continued strength in the industrial metals market.
Copper recorded record highs last year, posting an annual gain of 42%, driven by a weaker U.S. dollar, strong demand from the artificial intelligence and renewable energy sectors, as well as disruptions to mine supplies, which tightened global availability.
Market expectations indicate that copper price trends during the current year will largely depend on demand levels in China, as the metal is widely used in the energy and construction sectors, two key pillars of global copper consumption.
In this context, data showed that factory activity in China posted unexpected growth in December, ending an eight-month streak of contraction. The improvement was supported by a rise in orders ahead of the year-end holiday period, as officials seek to stimulate the manufacturing sector in the world’s second-largest economy, valued at around $19 trillion, without exacerbating deflationary pressures.
As for other metals, zinc edged up 0.1% to $3,121.5 per ton, lead rose 0.1% to $2,012 per ton, tin increased 0.7% to $40,825 per ton, and nickel climbed 1.2% to $16,850 per ton, signaling a broadly positive start for base metals at the beginning of the new year.
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