Copper Surges But Constraints Threaten $200 Billion Merger

While Thursday saw the broadest market selloff of 2026 so far, copper has surged. Orange metal rallied to an all-time high, touching $14,268 a metric ton on the London Metal Exchange. Yet the blistering price action may do little to smooth the path for what could be the mining industry’s biggest-ever deal, a $200 billion merger between Rio Tinto Plc (NYSE:RIO) and Glencore Plc (OTC:GLCNF) . The Rally Drivers A weaker U.S. dollar, speculative momentum, and a narrative around copper’s central role in the technology transition all contributed to strong momentum. Since most commodities trade in U.S. dollars, the dollar…