Copper prices shoot up by 15% to now $14, 280 per ton

Copper prices shoot up by 15% to now $14, 280 per ton Copper prices have recorded a notable surge of approximately 15% since the beginning of the year, rising from USD 12,423.00 per tonne on January 2, 2026, to USD 14,282.50 per tonne as of August 2026, according to official reports. Last week, copper prices closed at USD 14,282.50 per tonne, up from USD 14,049.50 per tonne the previous week, representing a weekly increase of 1.66%.

However, questions remain as to whether Zambia is fully benefiting from this surge in copper prices. Speaking in an interview with the Zambian Business Times – ZBT, The Chief Executive Officer of the Zambia Chamber of Mines is Sokwani Chilembo, attributed the price increase to various prevailing market conditions.

“You asked about the details of the recent price spike in the market. At this stage, it is difficult to attribute the increase to any specific factor, given the inherent volatility of market conditions. Such fluctuations are common and may not be sustained over time, so it would be premature to comment on the exact cause of last week’s spike.”

When asked about how Zambia could strategically position itself to benefit from these price movements, Chilembo, however, requested an official press query.

“That is a matter best addressed through an official press inquiry. Please submit a formal press query to receive a comprehensive response on this subject.”

Article by Justine Phiri