Copper Slips on Profit-Taking

2026-02-26 05:56 By Jam Kaimo Samonte 1 min. read

Copper futures retreated to around $5.95 per pound on Thursday, snapping a two-day advance as investors engaged in profit-taking while reassessing the demand outlook in top consumer China.

Physical buying in China remained subdued following the Lunar New Year holiday, with some importers holding back purchases due to elevated prices.

Many domestic fabricators are also not expected to fully resume operations until early next month.

On the supply side, copper inventories in warehouses monitored by the Shanghai Futures Exchange climbed to their highest levels since 2024, while stockpiles in London and New York also increased, adding to near-term pressure on prices.

Meanwhile, markets continued to weigh optimism over potentially lower trade barriers after the US Supreme Court struck down Trump’s reciprocal tariffs, with China projected to face lower average levies on its metal-intensive exports.



News Stream
Copper Slips on Profit-Taking
Copper futures retreated to around $5.95 per pound on Thursday, snapping a two-day advance as investors engaged in profit-taking while reassessing the demand outlook in top consumer China. Physical buying in China remained subdued following the Lunar New Year holiday, with some importers holding back purchases due to elevated prices. Many domestic fabricators are also not expected to fully resume operations until early next month. On the supply side, copper inventories in warehouses monitored by the Shanghai Futures Exchange climbed to their highest levels since 2024, while stockpiles in London and New York also increased, adding to near-term pressure on prices. Meanwhile, markets continued to weigh optimism over potentially lower trade barriers after the US Supreme Court struck down Trump’s reciprocal tariffs, with China projected to face lower average levies on its metal-intensive exports.
2026-02-26
Copper Gains as Chinese Traders Return
Copper futures advanced toward $5.95 per pound on Wednesday, rising for the second straight session as Chinese markets resumed trade this week after the long Lunar New Year holiday. Optimism over potentially lower US tariffs supported the rally after the US Supreme Court struck down President Donald Trump’s reciprocal tariffs. Even with Trump threatening to raise global tariffs from 10% to 15% in response to the ruling, China is still expected to face lower average levies on its metal-intensive exports. However, higher physical prices have raised concerns that top consumer China could curb purchases, pushing exchange-tracked inventories to their highest levels since 2024. Stockpiles in both London and New York have also been on the rise.
2026-02-24
Copper Wobbles as Tariff Uncertainty Weighs
Copper futures hovered above $5.8 per pound on Monday, but struggled to cling onto gains from earlier in the session as shifting US trade policies unsettled global markets. On Saturday, US President Donald Trump said he would raise the 10% global levy announced a day earlier to 15%, following the US Supreme Court's rejection of his sweeping reciprocal tariffs, adding fresh uncertainty to the economic outlook. Tariffs typically dampen global growth, curbing demand for commodities, but pressure on the dollar from Trump’s announcements provided some support to copper and other metals. Investors also monitored expectations for higher trading volumes this week as Chinese markets reopen after the extended Lunar New Year holiday. Copper and other metals had surged sharply in January before being sold off, largely fueled by speculative activity among Chinese traders.
2026-02-23