The copper market is tightening fast, with a surge in shipments to the US and rising orders in China setting the stage for a rally that could take global benchmark prices to all-time highs.

Bloomberg Markets reports that the increased demand from both US manufacturers and China's construction sector is straining already limited supply chains. Mining companies are struggling to ramp up production quickly enough to meet the sudden spike in activity.

Analysts predict that this supply-demand imbalance could push copper prices to record levels within the coming months. The metal, often seen as an economic indicator, reflects the broader recovery in global manufacturing and infrastructure spending.

Market watchers are closely monitoring developments, as any further disruptions in mining operations or transportation logistics could exacerbate the shortage and accelerate price gains.