London Metal Exchange three‑month copper rose as high as $11,000 per metric ton on Thursday, October 9, 2025, the highest level since May 2024. Prices were last quoted near $10,970/t after briefly approaching the all‑time peak of $11,104.50/t. Reuters cited a year‑to‑date gain above 21% for copper in 2025, supported by a weaker U.S. dollar, lower interest rates and growing investor participation. The latest leg higher followed recent supply problems, including a mudslide affecting Freeport‑McMoRan’s Grasberg mine in Indonesia, which tightened near‑term expectations for refined metal availability. Market participants also pointed to increasing outside investment that could amplify volatility around key technical levels. The move came alongside heavy futures activity in New York, where COMEX copper earlier showed robust open interest and trading volumes for 25,000‑lb contracts. The price surge underscores copper’s sensitivity to mine‑side interruptions at a time when investors are attentive to macro conditions and electrification‑driven demand. Traders said focus now turns to inventories, nearby spreads, and any further updates from major producers on output and logistics. Any sustained tightening in concentrates or refined supply could keep LME prices elevated, while dollar strength or easing fund flows may temper gains.