The price of copper ore has climbed to $16.25 per pound from $16 a year ago, according an article from Bloomberg.
The price has risen since March and is expected to rise another 1.4% by the end of March, the report said.
Copper ore prices have been climbing in recent months as miners push for higher prices and as Chinese demand for the metal has risen.
Copper is used in batteries, electric cars and for processing steel.
The copper price is set by the U.N. Sustainable Development Goals and is calculated by a global price index.
The latest report, however, did not provide a breakdown of the impact on the U-S.
market, citing confidentiality agreements.