Copper price continued its strong bull run on Friday, reaching its highest point on record in Shanghai and New York. It crossed the important resistance at $14,000 a ton in China, while futures contracts jumped to $5.7 at the Comex.
This article explores some of the reasons why copper prices are in a strong bull run and the best copper stocks to buy as we head into 2026.
Why the copper price is in a strong bull run
The current phase of the copper price bull run started a few months ago when Donald Trump announced big tariffs on the metal imported to the United States.
Trump later on excluded most of the metal from levies. However, the decision will be in review in the coming year, meaning that the prices may keep going up towards that decision.
Most importantly, copper has jumped in the past few months because of the supply and demand dynamics. Analysts anticipate that the industry will remain in a supply deficit as demand continues soaring.
Copper demand has jumped because of the ongoing electrification trend as energy needs rise. Most of this energy demand is coming from electric vehicles and data centers.
The ongoing copper price surge is also because of the metal supercycle, with items like silver, gold, platinum, and palladium rising by double digits.
Best copper stocks to buy in 2026
The rising copper price will benefit companies in the industry that will experience higher demand. Some of these copper stocks to buy are Freeport-McMoRan, BHP Group, Glencore, Southern Copper, and Rio Tinto.
Freeport-McMoRan (FCX)
Freeport-McMoRan is one of the best copper stocks to buy if the prices continue their bull run. It is a nearly pure-play copper mining company with a market capitalization of over $75 billion. It has operations in the United States, Peru, and Indonesia.
FCX’s business has been growing in the past few years, with the annual revenue soaring from $14.6 billion in 2015 to over $26 billion in the trailing twelve months (TTM). It has also become a highly profitable company, with its TTM moving to over $2 billion.
This growth will likely accelerate in the coming months as copper prices jump and gain momentum.
Southern Copper (SO)
Southern Copper is another top copper stock to buy. It is a large company producing over 1 million metric tons of copper in mines in Peru and Mexico.
Like FCX, Southern Copper’s business has grown in the last decade, with its revenue rising from $17.48 billion in 2015 to $26.9 billion in the TTM and its profit jumping to over $4.2 billion.
The Southern Copper stock price has dropped by ~13% from its highest point this year as the company announced a plan to raise equity. It also dropped as its earnings came short of expectations.
Therefore, the most likely scenario is where the SO stock price rebounds and possibly hits the year-to-date high in the coming months.
BHP Group (BHP)
BHP Group, the biggest mining company globally, is another good copper stock to buy and hold. It produces over 1.86 million metric tons of copper in areas like Chile and Australia.
BHP stock price has jumped by 23% in the last 23% in the previous 12 12 months, and the rebound may continue. In addition to being a major player in the copper industry, the company also mines iron ore and coal.
There are other key copper stocks to watch. For example, Anglo American is a good buy as it seeks to buy Teck Resources. Other potential names to consider are Antofagasta, Hudbay Minerals, and Rio Tinto.
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