Copper prices have broken through previous resistance levels, attaining new multi-year highs amid robust global demand. Supply chain bottlenecks and geopolitical factors are contributing to the upward pressure on prices.

Analysts suggest that the current price rally is supported by strong economic growth in key consuming nations, particularly China. Infrastructure projects and the transition towards renewable energy sources are also boosting copper demand.

However, some market participants caution that the rapid price increase could lead to demand destruction and potential market corrections in the near future. Monitoring inventory levels and production capacities will be crucial in assessing the sustainability of the current price trend.