Copper is acting like it's the new tech stock. Honestly, if you’ve checked the price of copper per kg today, you’ve probably noticed the numbers are looking a bit wild. We aren't just talking about a little bump in the road. As of January 14, 2026, the global market is pushing the "red metal" into territory we haven't seen since the post-pandemic supply chain mess.
Right now, the spot price is hovering around $13.31 per kg.
If you're doing the math for a ton, that’s roughly $13,310. For those still thinking in pounds—which is how the COMEX usually talks—we’re looking at about $6.04 to $6.10 per lb. It’s a steep climb from where we were just a few months ago. Why? Basically, it's a "perfect storm" of data centers, lagging mines, and some serious geopolitical jitters.
What is the price of copper per kg today?
If you walked into a scrap yard this morning or checked your Bloomberg terminal, the number you saw depends heavily on where you are. But for a baseline, the London Metal Exchange (LME) and COMEX are currently signaling high demand.
- LME Copper Cathode: $13.31 per kg (Official Cash)
- COMEX Futures: Roughly $13.32 per kg ($6.04 per lb)
- Scrap Copper (No. 1 Bare Bright): Usually trails the spot price by 10-15%, so expect roughly $11.30 to $11.90 per kg depending on your local dealer.
Prices are jumpy. Yesterday, we were at $13.30. A week ago? $13.06. That’s a massive move for a base metal. Traders are betting that the 2026 supply deficit—estimated by groups like J.P. Morgan and the International Copper Study Group (ICSG) to be around 330,000 metric tons—is actually happening.
The AI factor no one saw coming
You’d think the price of copper per kg today would be driven by house building or plumbing. Not quite. While the property market in China is still a bit of a disaster (down about 3.7% in value recently), the Slack and ChatGPT of the world are picking up the tab.
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Data centers are copper-hungry. They need miles of high-quality cabling and massive busbars for power distribution. In 2025, the surge in AI infrastructure was the single biggest driver of US copper consumption. That momentum hasn't stopped. In fact, China is now racing to build its own sovereign AI clusters to compete with the US, which means they’re buying up every spare scrap of copper they can find.
It’s kinda fascinating. Your local electrician is paying more for Romex because someone in Virginia or Beijing is building a server farm to train a chatbot.
Why the supply side is basically stuck
We aren't digging it up fast enough. It sounds simple, but the reality is messy.
Mining grades are falling. In the early 2000s, a good mine might have 1.2% copper in the rock. Now? We’re lucky to get 0.6%. That means you have to move twice as much dirt to get the same amount of metal. It’s expensive. It’s slow. And it requires a ton of diesel.
The Ivanhoe Kamoa-Kakula Situation
Look at what happened with Ivanhoe Mines. Their massive Kamoa-Kakula project in the DRC had a bit of a hiccup late last year. They’ve been processing stockpiles to keep the numbers up, but those stores are running dry this quarter. Their 2026 guidance is actually lower than what they hope to hit in 2027. When a major player like that signals a temporary dip in output, the market panics.
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Then you’ve got the "tariff front-running."
President Trump’s trade policies have everyone on edge. There’s a proposed 15% tariff on refined copper imports slated for early 2027, with the US Secretary of Commerce due to give an update by June 2026. Because of this, US companies are stockpiling now. CME warehouses are sitting on record-high inventories—over 453,000 tons—because people want to lock in supply before the tax man shows up. This "artificial" demand is keeping the price of copper per kg today much higher than it probably would be if trade relations were smooth.
Where do we go from here?
If you’re waiting for $8.00 per kg again, don't hold your breath.
Analysts at Goldman Sachs and Citigroup are actually disagreeing on how high this goes, which usually means volatility is the only winner. Citi thinks we could see $5.90 per lb (about $13.00/kg) as a floor by the second quarter. J.P. Morgan is even more bullish, suggesting peaks near $12,500 per ton ($12.50/kg) are conservative and that $15,000 isn't out of the question if a major mine in Chile or Peru goes offline.
For the person on the street, this means:
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- Home Reno Costs: Expect wiring and HVAC quotes to stay high.
- EV Pricing: Electric vehicles use about 3x more copper than gas cars. High copper prices are a direct headwind for cheaper EVs.
- Scrap Value: If you’ve got old pipes in the garage, now is probably the time to head to the yard.
Honestly, the "Dr. Copper" nickname—where the metal's price predicts economic health—is changing. It used to tell us if the economy was growing. Now, it mostly tells us how fast we’re trying to build a digital, electrified future.
Your immediate next steps
If you are an investor or a business owner, stop looking at "average" prices. The spread between the LME (London) and the CME (US) is at record widths. If you’re buying physical metal, look at your local premiums. They are often $500 to $1,000 above the "paper" price right now.
Keep an eye on the June 2026 Commerce Department report. That will be the trigger for the next big leg up or a sudden correction. Until then, the price of copper per kg today remains a reflection of a world that wants more electricity than the earth is currently willing to give up easily.
Check your local scrap yard rates specifically for "Bare Bright" or "No. 1 Copper" if you are selling, as those are the grades currently commanding the highest premiums due to the shortage of refined cathodes.