Copper prices are soaring in New York due to concerns over tariffs and a surge in demand, reaching record highs. A Bank of America analyst warns of a supply crisis in the copper market, influenced by increased defense spending and the production of electric vehicles. Demand for copper is strong in New York, with prices hitting an all-time high, while London Metal Exchange sees a dip in prices. The market is witnessing stockpiling of copper in the US as participants anticipate tariffs, leading to a shortage of copper units available. There are expectations of President Trump imposing tariffs on copper imports soon, which could further impact prices. Additionally, rising defense budgets in Europe are expected to affect copper supply and prices.