Copper Sinks to 3-Month Low
2026-03-19 03:57
By
Jam Kaimo Samonte
1 min. read
Copper futures fell below $5.5 per pound on Thursday, hitting a three-month low amid a sharp rise in exchange inventories, signaling softer physical demand.
Total LME copper stocks climbed nearly 19,000 tons to 330,375 tons, the highest level since September 2019.
Analysts cited weaker Chinese demand and reduced shipments to the US as tariffs slowed trade.
Ongoing Middle East hostilities and surging energy prices also weighed on metals markets, amid rising inflation risks and potential global economic fallout.
Iran launched missile strikes on a Qatari facility housing the world’s largest LNG export plant, one of several energy assets Tehran vowed to target after an Israeli strike on Iran’s South Pars gas field.
Meanwhile, the US Federal Reserve kept its policy rate unchanged and indicated it will not cut rates until inflation shows signs of easing.