Copper prices shoot up to over $14,100 per tonne!

Global copper prices recorded a strong upward […]

Global copper prices recorded a strong upward surge last week, breaching the $14,100 per tonne mark on the international market. Trading closed at over $14,100 per tonne, up from $13,800 per tonne registered the previous week. The shift represents a 2 percent weekly increase and underscores a broader, sustained rally in red metal valuations since the start of the year.

Compared to the $12,423.00 per tonne recorded on January 2, 2026, current spot prices reflect a cumulative gain of 14 percent. However, a key question remains: as copper prices continue to fluctuate, is Zambia truly capitalizing on these gains?

Meanwhile, in an interview with the Zambian Business Times (ZBT), National Union of Miners and Allied Workers (NUMAW) President Saul Simujika welcomed the rise in copper prices, emphasizing the need for Zambia to maximize this opportunity.

“This is a very positive development. We must take advantage of the high copper prices by increasing our productivity. If we are able to ramp up production, the country stands to benefit significantly,” Simujika stated.

He further highlighted the importance of ensuring that the gains from the copper market also benefit mine workers.

“When profits increase, mining companies should consider how these benefits can trickle down to the employees who are driving production. We hope this upward trend continues, as it will strengthen our position during the upcoming negotiations on conditions of service set for October 2027,” he added.

Simujika concluded by reiterating that the favorable market conditions present a strong case for improved benefits for workers and should be leveraged fully by all stakeholders.

Article by Tyndale Muchiya