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Copper Prices Hit Record Highs: What This Means for First Copper and Cable Stocks
Non-Energy Minerals · Other Metals/Minerals · economic_daily · 2026-09-08
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Copper prices have surged to record highs driven by AI infrastructure demand and supply constraints, positioning companies like First Copper and major cable manufacturers to benefit from inventory gains and pricing power.
What Happened
Record Copper Prices: Copper futures on the London Metal Exchange have reached historic highs, marking a 17% gain year-to-date. The rally is fueled by robust demand from AI data centers, renewable energy projects, and power grid expansions.
Supply Constraints: Global copper production is struggling as major producers like Chile face declining output and aging assets. Industry experts warn that a lack of new mining projects and persistent operational challenges could lead to the first annual contraction in global supply since 2017.
Market Dynamics: Potential U.S. tariffs on refined copper are expected to redirect metal flows, tightening inventories in London and further inflating prices. This geopolitical uncertainty adds another layer of volatility to the already strained global copper market.
Impact on Taiwanese Firms: First Copper is seeing significant benefits from low-cost inventory and increased product pricing, with revenues hitting an 11-year high. Meanwhile, cable manufacturers like Walsin, Hua-Rong, and Ta Ya are leveraging strong order books and cost-pass-through capabilities to capitalize on the ongoing infrastructure boom.