Copper Stocks Surge as Prices Keep Climbing
Copper prices have risen significantly over the past year, reaching record levels this month.
From September 2025 to September 2026, US copper prices have risen more than 50 percent, while London Metal Exchange (LME) prices have jumped by 48 percent. Although the gains have moderated since the start of the year, copper’s upward trajectory has continued, with COMEX copper rising 20 percent and LME copper up 18 percent.
Supply and demand forces are both contributing these prices rises.
Supply shocks at mining and smelting operations are affecting the market, as are steady increases in demand, with further need coming from the artificial intelligence and energy transition sectors.
As the market tightens, a variety of copper stocks are reaping the benefits.
Record prices boost copper stocks
Shares of most major copper producers have gained strongly since the start of 2026.
BHP (ASX:BHP,NYSE:BHP,LSE:BHP) has increased 42 percent, Glencore (LSE:GLEN,OTCPL:GLCNF) has surged more than 50 percent and Southern Copper (NYSE:SCCO) is up 48 percent.
Even companies materially affected by operational closures have had tailwinds. First Quantum Minerals (TSX:FM,OTCPL:FQVLF) is up 23 percent year-to-date and 87 percent since September 2025, while Freeport-McMoRan (NYSE:FCX) has gained 48 percent year-to-date and 69 percent from last year.
Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF) has recorded a 17 percent decline in its share price since the start of the year, but most of its losses occurred during the first half of 2026, when it plunged 36 percent between January and April. More recently, shares have rebounded, gaining 16 percent between August 10 and Wednesday (September 9).
Copper’s momentum is being reflected in spending. In June, S&P Global forecast that capital expenditures for the mining industry will reach a 10 year high of US$121 billion this year, largely driven by copper.
It’s money that is starting to trickle down into the junior sector. In an April report, EY said exploration investment in BC hit a record C$751 million in 2025, with copper investment accounting for C$385 million.
While it’s still unclear where 2026 expenditures will land, overall copper market conditions have tightened and moved closer to a supply deficit, adding more impetus for mining majors to fill their project pipelines.
The high copper price environment is also contributing to stellar gains for some companies on the TSXV. Tintina Mines (TSXV:TTS,OTCPL:TNNTF) is up over 600 percent since the start of the year as it works on its Dos Amigos project in Chile; BCM Resources (TSXV:B,OTCPL:BCMRF) has gained more than 400 percent as it continues exploration activities at its Thompson Knoll property in Nevada; and Panoro Minerals (TSXV:PML,OTCQB:POROF) has surged almost 400 percent while it advances the Cotabambas project in Peru.
Why are copper prices rising?
The biggest factor behind copper’s rise is…
Read More: Copper Stocks Surge as Prices Keep Climbing