Copper prices are back in focus heading into the final stretch of 2025, with the “red metal” hovering near record territory after a sharp run-up and an equally sharp bout of volatility late last week. As of the latest mid‑afternoon pricing available, benchmark COMEX copper futures (most‑active contract) traded around $5.4185 per pound, up about 1.1% on the day, with the day’s range roughly $5.3433–$5.5192, according to Investing.com’s derived real-time feed. Investing.com In London, copper is still being priced like a market wrestling with two competing stories: (1) tightness and inventory distortions linked to U.S. stockpiling and (2) macro and China-demand anxiety that can knock prices around quickly.