Copper Prices Near Record Levels as Sulfur Shortage Bites
Copper prices have surged above $14,000 per ton, approaching historic highs as a global sulfur shortage disrupts supply chains and intensifies pressure on an already tight market. The rally reflects a combination of geopolitical tensions, production setbacks, and rapidly growing demand from artificial intelligence and defense industries. A major trigger has been the blockade of the Strait of Hormuz, which disrupted exports of sulfur and sulfuric acid, both critical materials used in copper refining processes such as heap leaching and SX-EW. Gulf countries account for roughly a quarter of global sulfur supply and a significant share of sulfuric acid trade,…