Copper price hits record high on concerns over tariffs and shortages

Industrial metal has passed $12,000 a tonne as rally continues

Copper rose to a record high on Tuesday, crossing the $12,000 a tonne threshold for the first time as concerns about US tariffs and potential shortages fuelled a rally that has endured since October.

The industrial metal, which is seen as a bellwether for the health of the global economy, rose 1 per cent to as much as $12,039 a tonne in morning trading in London.

Gold and silver also rose to fresh record highs on Tuesday, driven by geopolitical tensions and expectations that the US Federal Reserve will cut interest rates next year.

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