On July 23, 2025, copper prices on the Comex exchange reached new record highs, closing at $5.7950 per pound, marking a 3.6% increase during the day. The London Metal Exchange (LME) copper price also climbed toward $10,000 per tonne, driven by accelerated shipments to U.S. ports ahead of August 1 tariff deadlines and indications of stronger Chinese demand linked to infrastructure projects. Despite weak fundamentals, zinc prices extended their rally to a six-week high. The rise in copper prices coincided with a slight decline in the U.S. dollar, which traded below 950 Chilean pesos amid easing trade tensions, increased flows into risk assets, and the ongoing U.S.-Japan trade agreement. Market participants noted the copper price surge as a significant factor influencing currency and commodity markets ahead of the upcoming tariff implementation.