Copper futures reached a record high after a strike in Chile

From youtube.com/cmegroup

March Copper futures reached a new all-time high of $6.1125 per pound as labor disruptions at the Mantoverde mine in Chile raised concerns over global supply tightness. Workers launched a strike over pay and conditions, leading to reduced operations during the region's traditional strike season. Analysts highlighted that the market remains sensitive to supply shocks given projections of a deepening deficit. Additionally, Copper futures continue to trade at a premium as market participants factor in the potential for U.S. tariffs on refined imports, with proposed duties of 15% in 2027 and 30% in 2028 under ongoing review.