Copper Reaches ATH As K9Strategy Burns 144 BoDoggos – Tekedia

Benchmark copper prices on the London Metal Exchange (LME) surged past $13,000 per metric ton for the first time, reaching intraday highs around $13,387–$13,387.50 on January 6, before settling slightly lower.

This extends a massive rally from 2025 up ~42% annually, driven by: Tight global supply from mine disruptions e.g., strikes in Chile, accidents in Indonesia. Strong demand from electrification, EVs, AI data centers, and grid upgrades. US stockpiling ahead of potential import tariffs under the Trump administration, creating regional shortages elsewhere.

Speculative buying amid broader metals bullishness. Prices have pulled back slightly today to around $13,200–$13,300 range, but the ATH is confirmed across sources like Bloomberg.

K9Strategy burns 144 BoDoggos

This appears to refer to activity in the BoDoggos ecosystem—a popular Solana-based NFT collection (8,888 dog-themed PFPs launched in 2023) with associated crypto elements.

K9Strategy or similar, like Bodoggos Strategy token/treasury manages a “treasury company” that buys, relists, and sometimes burns BoDoggos NFTs or related tokens to reduce supply and create scarcity/yield for holders.

Burning 144 specifically isn’t directly confirmed in recent public news or posts no exact match for that number/event today, but the project frequently engages in buy-burn-relist mechanics via DEX fees and treasury actions. Recent X chatter involves BoDoggos community discussions, podcasts, and bets involving individual NFTs—consistent with ongoing burns or supply reduction strategies.

If this is from a specific announcement or transaction, it aligns with their model to boost value. These seem like two unrelated bullish headlines—one macro commodity, one crypto/NFT. The recent surge in copper prices to an all-time high of over $13,000 per metric ton in early January 2026 is poised to raise production costs for electric vehicle (EV) batteries, given copper’s critical role in battery components.

While this could squeeze margins for battery manufacturers and potentially contribute to higher EV prices in the short term, ongoing efficiency improvements and material substitutions are helping mitigate the effects, with EV copper demand still projected to grow substantially.

Copper’s Role in EV Batteries

Copper is essential in lithium-ion batteries, primarily used for: Thin electrolytic copper foils act as the anode’s substrate, enabling electron flow between the anode and cathode. These foils are shifting toward thinner variants (4-6 microns) to improve energy density and reduce material needs.

Other components: Busbars for power distribution and thermal management, wiring harnesses, connectors, motors, and charging cables. An average EV requires about 70 kg (155 lbs) of copper—roughly 4 times more than a traditional internal combustion engine vehicle—dominated by wiring (55.7 lbs) and batteries (50.6 lbs).

The global market for electrolytic copper foils specifically for EV batteries is forecasted to grow significantly, driven by rising EV adoption in regions like China, Europe, and North America.

Cost Increases and Supply Chain Effects

Elevated copper prices—projected to average $10,600–$10,710 per metric ton in the first half of 2026, with volatility due to supply surpluses and deficits—are directly inflating raw material expenses for battery producers.

This stems from:Supply disruptions: Mine strikes in Chile, accidents, reduced output from Chinese smelters, aging mines with falling ore grades ~40% decline since 1991, and a projected global concentrate shortfall leading to structural deficits as early as 2026.

Global copper mine output is expected to increase only 3.3% year-on-year in 2026. Demand pressures: Strong pull from electrification, including EVs, renewable energy grids, AI data centers, and US stockpiling amid potential tariffs at least 25% on refined copper imports by mid-2026, which could accelerate regional shortages.

For EV batteries, this translates to higher input costs, as batteries already account for 30-40% of an EV’s total price. Specific impacts include: Production costs jumping $2,000–$4,000 per EV unit, potentially killing budget models and causing manufacturers to raise prices or cut output.

Squeezed profit margins for manufacturers, especially small and medium enterprises (SMEs) in the supply chain, due to higher expenses for wiring, connectors, chargers, and components, with limited hedging options.

Potential misses in EV adoption targets by 40-50%, as the transition hits bottlenecks from copper shortages more than other metals like lithium or nickel. Raw materials like copper, alongside geopolitical tensions, amplify volatility.

To counter high prices, the industry is pursuing: Material thrifting and substitutions: Replacing copper busbars with aluminum, reducing per-vehicle copper intensity by up to 38 kg by 2030, with busbars seeing a 6% annual reduction.

Thinner foils, better recycling though scaling takes 7-10 years, and design optimizations, as substitution is impossible for ~60% of electrical applications needing copper’s conductivity. Despite these pressures, copper demand from the EV and battery sector is expected to rise 177% by 2030 to 2.5 million tonnes annually, driven by BEV deployment and charging infrastructure, offsetting per-vehicle reductions.

Overall demand could reach 40 million tonnes by 2040, with massive shortfalls unless new projects accelerate, as mined supply growth is capped at 3-4% annually. Prices may ease somewhat in 2026 due to short-term surpluses but are set for long-term upward pressure from structural deficits.