Copper ($COPPER) Commodity Forecast: Down 6.1% Today

What is Copper?

Copper is a widely used industrial metal celebrated for its conductivity and corrosion resistance. It holds a crucial role in sectors like construction, electronics, and transportation. The copper market's dynamics are shaped by global economic conditions, supply and demand variations, and geopolitical occurrences.

Why is Copper going down?

COPPER commodity is down 6.1% on Jan 30, 2026 3:41

• Copper futures observed a notable downward trend, declining by over 3% to approximately $6 per pound. This shift followed a recent price surge, driving the metal to historic highs due to multiple factors like heightened demand for tangible assets, geopolitical uncertainties, and a weakening dollar.
• The decline in copper prices can be understood as investors seizing profits subsequent to the significant upsurge in metal prices. The retreat in the metals market, encompassing copper, gold, and silver, was influenced by a modest dollar recovery and a reassessment of the fundamental rationale behind the recent speculative surge.
• Investor sentiment towards copper altered as they searched for tangible assets amidst economic ambiguity and apprehensions regarding the dollar's stability. Persistent tariff tensions initiated by US President Donald Trump additionally contributed to the fluctuating metal prices, showcasing the ongoing influence of geopolitical events on commodity markets.

COPPER Price Chart

COPPER Technical Analysis

COPPER News

Copper Reverses Gains as Metals Retreat

Copper futures dropped more than 3% to around $6 per pound on Friday, reversing a sharp rally from the previous session amid a broad retreat across the metals complex. Investors locked in profits after copper, gold, silver, and other metals surged to record levels, while a nascent rebound in the dollar added further pressure. Market participants also reassessed the fundamentals behind the recent speculative rally, which had been driven in part by expectations of higher long-term demand amid limited supply following decades of underinvestment in new mining projects. Demand projections are supported by surging investment in data centers and the electrification infrastructure needed for AI services and electric vehicle charging stations. Recurring tariff threats from US President Donald Trump further amplified the rise in metal prices, as investors sought hard assets amid economic uncertainty and deteriorating confidence in the dollar.

Copper Eases from Surge in Volatile Session

Copper futures in the US surged over 10% to a record high of $6.5 per pound before trimming gains to the $6.2 mark, aligned with a volatile session for metals as markets gauged the fundamentals behind the recent speculative rally. Copper lead the recent surge in base metals as bets of higher demand in the long term would coincide with insufficient supply following decades of underinvestment in new mining projects. Demand bets are underpinned by surging investment in datacenters and the electrification infrastructure needed to power AI services and electric vehicle charging stations. Recurring tariff threats by US President Trump magnified the rise in metal prices amid the market's search for hard assets in uncertain economic outlooks, in addition to the impact of a weaker dollar.

Copper Rallies to All-Time High

Copper futures surged 5% to above $6.2 per pound on Thursday, hitting record highs on rising demand for real assets as geopolitical and trade uncertainties and a sudden drop in the dollar unnerved investors. In recent developments, US President Donald Trump threatened Iran with military strikes far more severe than the attack he ordered in June unless the country agrees to a trade deal with Washington. Trump’s tariff threats against other nations, coupled with his apparent indifference to the dollar’s weakness, further fueled the flight to metals. Copper is also being supported by recurring supply tightness and robust industrial demand, particularly driven by the global transition to renewable energy and artificial intelligence. Meanwhile, copper inventories in Shanghai, London, and New York have risen in recent weeks, pushing combined holdings above 900,000 tons.

Copper Hits All-time High

Copper increased to an all-time high of 6.11 USD/Lbs. Over the past 4 weeks, Copper gained 5.29%, and in the last 12 months, it increased 41.75%.

Copper Gains as Dollar Weakens

Copper futures rose 2% to around $5.98 per pound on Wednesday, reversing losses from the previous session as a sharp decline in the dollar lifted the broader metals complex, including copper, gold and silver. A weaker greenback makes dollar-denominated commodities more affordable for holders of other currencies, supporting demand. Copper also drew support from growing retail investor interest and structural demand tied to renewable energy, electrification and artificial intelligence. However, gains were capped by signs of softening demand in top consumer China and rising global inventories. Data showed copper stockpiles at Shanghai Futures Exchange warehouses climbed last week to a record seasonal high, pointing to sluggish consumption. Meanwhile, COMEX copper inventories topped 500,000 tons for the first time, while London Metal Exchange stockpiles rose to their highest level since May 2025, lifting total global holdings above 900,000 tons.

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Copper ($COPPER) Commodity Forecast: Down 6.1% Today

Copper Price History

28.10.2025 - COPPER Commodity was up 5.0%

• Copper futures surged to a 4-month high above $5.1 per pound due to multiple mine disruptions from major producers, including a fatal incident at a mine in Indonesia, leading to supply constraints.
• Chilean producer Codelco offering record-high prices to Chinese buyers signaled a potential shift towards prioritizing US consumers, reinforcing the bullish outlook for copper in the long term.
• Expectations of the US Federal Reserve lowering borrowing costs again this year added to the positive sentiment, supporting domestic manufacturers and dollar-priced commodities, including copper.
• The upcoming industry meeting in China, where miners are expected to push for tougher supply terms for 2026, also contributed to the bullish momentum in copper prices.

28.10.2025 - COPPER Commodity was up 4.5%

• Copper futures saw a notable increase, reaching a four-week peak following a strategic move by Chilean company Codelco to propose premium prices for Chinese purchasers, indicating a potential shift towards favoring US buyers. This development, combined with expectations of a more aggressive approach to monetary policy by the US Federal Reserve, contributed to the bullish atmosphere in the copper market.
• Anticipation surrounding an upcoming significant industry gathering in China, where discussions on stricter supply agreements for 2026 are anticipated, prompted investors to take strategic positions. The outlook of tightening supply conditions, along with renewed positivity regarding possible interest rate adjustments, further boosted copper prices.
• Support for copper prices was reinforced by cautious statements from a senior US Federal Reserve official, as well as indications of supply constraints such as Codelco's proposal of a record premium for metal destined for South Korea. Favorable market dynamics were also influenced by the restart of operations at Indonesia's Grasberg mine and a decrease in copper cathode imports in China.

05.00.2026 - COPPER Commodity was up 5.0%

• Copper prices rose to near all-time highs due to global supply limitations and strong demand.
• Concerns about potential US tariffs and supply disruptions in major copper-producing countries contributed to the upward price trend.
• The metal's impressive performance was driven by its importance in electrification technologies and infrastructure development for artificial intelligence, highlighting the shift towards cleaner energy sources.
• Despite some profit-taking in recent times, copper is set to achieve its largest annual gain since 2009, demonstrating its resilience and appeal to investors in a changing market environment.

05.00.2026 - COPPER Commodity was up 5.1%

• Copper surged to an all-time high of $5.94 per pound, marking a significant increase over the past year.
• Tightening global supply conditions, including disruptions in major mines like Mantoverde in Chile and Grasberg in Indonesia, have supported the price rally.
• Traders redirected shipments to the US amid concerns over potential tariffs and supply risks, further driving up prices.
• The metal's demand remains robust due to its extensive use in electrification technologies and infrastructure development, contributing to its impressive performance in the market.

30.00.2026 - COPPER Commodity was down 6.1%

• Copper futures observed a notable downward trend, declining by over 3% to approximately $6 per pound. This shift followed a recent price surge, driving the metal to historic highs due to multiple factors like heightened demand for tangible assets, geopolitical uncertainties, and a weakening dollar.
• The decline in copper prices can be understood as investors seizing profits subsequent to the significant upsurge in metal prices. The retreat in the metals market, encompassing copper, gold, and silver, was influenced by a modest dollar recovery and a reassessment of the fundamental rationale behind the recent speculative surge.
• Investor sentiment towards copper altered as they searched for tangible assets amidst economic ambiguity and apprehensions regarding the dollar's stability. Persistent tariff tensions initiated by US President Donald Trump additionally contributed to the fluctuating metal prices, showcasing the ongoing influence of geopolitical events on commodity markets.

25.10.2025 - COPPER Commodity was down 0.3%

• Copper prices fell sharply as signs of soft demand in China, particularly in the property sector and power grid spending, weighed on the market sentiment.
• Expectations that the US Federal Reserve may not cut interest rates in December also contributed to the bearish trend, with recent signals of cautious policy adjustments amid economic uncertainty.
• The ongoing supply concerns supported copper prices previously, but the market sentiment turned bearish today due to the combination of weak demand indicators and Fed's cautious stance on rate cuts.
• Despite previous support from tightening supply and supply disruptions such as the incidents at the Grasberg mine in Indonesia and the copper mine collapse in Congo, the market sentiment shifted towards a bearish outlook today.

29.00.2026 - COPPER Commodity was up 8.1%

• Copper prices surged to all-time highs due to rising demand for real assets amidst geopolitical and trade uncertainties, and a weakening dollar.
• US President Trump's threats against Iran and other nations, along with a declining dollar, fueled the flight to metals like copper.
• The metal is also supported by supply tightness, robust industrial demand driven by renewable energy and artificial intelligence, and growing retail investor interest.
• Despite signs of softening demand in China and rising global inventories, the overall bullish trend in copper prices is sustained by these factors.

29.00.2026 - COPPER Commodity was up 5.1%

• Copper surged to all-time highs above $6.2 per pound driven by rising demand for real assets amidst geopolitical and trade uncertainties, alongside a weakening dollar.
• Recurring tariff threats by governmental figures, coupled with supply tightness and robust industrial demand from renewable energy and AI sectors, further fueled the rally in copper prices.
• Despite recent drops due to rising inventories in a significant market, copper continues to benefit from a weaker currency, growing retail investor interest, and structural demand tied to renewable energy and electrification.
• The market's bullish sentiment towards copper is also supported by insufficient supply following decades of underinvestment in new mining projects, as well as increasing investment in specific infrastructure projects.

10.09.2025 - COPPER Commodity was down 5.9%

• Today's decline in copper prices is linked to President Trump's considerations of imposing higher tariffs on Chinese imports, sparking fears of an escalation in the US-China trade conflict.
• Supply disruptions in major copper-producing nations such as Chile and Indonesia, stemming from accidents and operational difficulties, are contributing to the downward pressure on copper prices.
• Market participants engaging in profit-taking activities have been noted, potentially exacerbating the selling momentum in copper futures, despite ongoing supply constraints.
• The current bearish trend in copper prices reflects the intricate interplay of trade tensions, supply interruptions, and profit-taking behaviors, underscoring the commodity market's susceptibility to geopolitical and operational upheavals.

12.11.2025 - COPPER Commodity was down 2.3%

• Despite hitting multi-month highs recently, Copper faced a bearish movement today as investors weighed demand uncertainties from China, the top consumer of the metal.
• The slip in Copper prices can be attributed to concerns over potential US tariffs on refined copper next year, leading to a cautious approach by investors.
• Supply disruptions in major producing countries like Chile and Peru, coupled with fears of a supply squeeze in the London market, have added volatility to Copper prices.
• The ongoing balancing act between stimulus measures and financial risk management by global economic leaders has also contributed to the fluctuating prices of Copper in the market.

25.08.2025 - COPPER Commodity was up 5.2%

• Today's positive trend in copper prices originated from supply worries within the market, notably stemming from disruptions at major mines:
• Freeport-McMoRan's imposition of force majeure on production at its Grasberg mine in Indonesia due to an unfortunate incident highlighted the market's susceptibility to supply disruptions.
• Operations suspension at Hudbay Minerals' Constancia mine in Peru amid protests further exacerbated the supply limitations.
• These disruptions, particularly at Grasberg, a significant source of global copper supply, sparked concerns of a potential shortage, leading to price escalations.
• The market's response emphasizes the critical significance of monitoring geopolitical events and operational risks in key mining areas to assess potential implications on commodity prices.

10.09.2025 - COPPER Commodity was down 2.3%

• Despite recent supply disruptions in major copper-producing countries like Chile and Indonesia, copper prices experienced a bearish movement today, possibly due to profit-taking by investors.
• The ongoing supply concerns, including mine disruptions and reduced production forecasts by key players, have been supporting copper prices in recent days.
• The uncertainty surrounding the timeline for full production recovery at the Grasberg mine in Indonesia and the El Teniente site in Chile may have contributed to the market's bearish sentiment today.
• Broader market factors, such as expectations for Federal Reserve rate cuts and their impact on industrial metal demand, could also be influencing the fluctuation in copper prices despite the supply-side disruptions.