Copper Heads for Third Weekly Drop

2026-03-20 03:35 By Jam Kaimo Samonte 1 min. read

Copper futures rebounded to around $5.5 per pound on Friday after hitting multi-month lows in the previous session, supported by reassurances from the US and Israel regarding the Middle East conflict.

US President Donald Trump said the US is not considering deploying ground troops against Iran, while Israeli Prime Minister Benjamin Netanyahu confirmed Israel would hold off on further strikes on Iranian energy infrastructure.

The conflict has pressured metals markets amid concerns that rising energy prices could slow global manufacturing and economic activity.

Despite the rebound, copper is set for a third consecutive weekly loss, as surging exchange inventories point to softer physical demand.

Analysts highlighted weaker Chinese consumption and reduced shipments to the US, slowed by tariffs.

Additionally, major central banks signaled a bias toward tighter monetary policy this week amid elevated inflation risks from higher energy costs.



News Stream
Copper Heads for Third Weekly Drop
Copper futures rebounded to around $5.5 per pound on Friday after hitting multi-month lows in the previous session, supported by reassurances from the US and Israel regarding the Middle East conflict. US President Donald Trump said the US is not considering deploying ground troops against Iran, while Israeli Prime Minister Benjamin Netanyahu confirmed Israel would hold off on further strikes on Iranian energy infrastructure. The conflict has pressured metals markets amid concerns that rising energy prices could slow global manufacturing and economic activity. Despite the rebound, copper is set for a third consecutive weekly loss, as surging exchange inventories point to softer physical demand. Analysts highlighted weaker Chinese consumption and reduced shipments to the US, slowed by tariffs. Additionally, major central banks signaled a bias toward tighter monetary policy this week amid elevated inflation risks from higher energy costs.
2026-03-20
Copper Sinks to 3-Month Low
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.
2026-03-19
Copper Slips on Weak Fundamentals
Copper futures fell below $5.7 per pound on Wednesday, extending losses from the previous session amid expectations that the market may shift from deficit to surplus as supply outpaces consumption. Total copper supply has risen by more than 2 million tons since 2022, while demand, now constrained by slowing Chinese consumption, has increased by only about 1 million tons. Chinese copper consumption in 2025 showed no growth, a sharp slowdown from the roughly 700,000 tons of annual growth seen between 2010 and 2020. Inventories across the world’s three major copper exchanges, London, COMEX, and Shanghai, have also been rising sharply. Meanwhile, investors continued to monitor ongoing hostilities in the Middle East amid efforts to secure commercial shipping through the crucial Strait of Hormuz. Elsewhere, the US Federal Reserve and other major central bank are widely expected to keep interest rates unchanged this week.
2026-03-17