Copper prices have reached an all time high. On Monday the London Market Exchange and Comex listed copper at $4.90 per pound.
Mark Thompson is the vice president of environmental affairs at Montana Resources, an active copper mine in Butte.
“What could be happening is the Ukrainian conflict is driving people to try to stockpile copper concentrates for future use in case the prices go even higher.”
Thompson said copper prices have increased during the pandemic after reaching its last record-high in 2021. He attributes that to the recent demand in renewable energy products, which rely on copper because of its electricity conducting attributes.