Copper futures rose above $6.70 per pound on Tuesday, extending gains for a sixth consecutive session as supply concerns strengthened. Sprott Asset Management said global mined copper output could decline in 2026 for the first time since 2017, despite record prices, as production disruptions, lower ore grades and weak Chilean output weigh on supply. Mine production fell 1.1% year over year in the first half of 2026, while disruptions in Indonesia and the Democratic Republic of Congo removed an estimated 600,000 tonnes from expected annual output. Demand remains strong from power grids, AI data centers and defense, while traders assess proposed US copper tariffs of 15% from January 2027 and 30% from 2028, pending a presidential decision.