Copper Slips After Two-Day Rebound

2026-06-29 04:42 By Jam Kaimo Samonte 1 min. read

Copper futures fell toward $6.1 per pound on Monday, snapping a two-day rebound as expectations of tighter US Federal Reserve policy continued to weigh on the outlook for industrial metals demand.

Fed Chair Kevin Warsh reiterated the central bank's commitment to bringing inflation under control, reinforcing the hawkish tone of his debut earlier this month that prompted markets to scale back expectations for US rate cuts this year.

Investors are now awaiting the latest US monthly jobs report later this week for fresh clues on labor market strength and the Fed's policy path.

Meanwhile, Goldman Sachs said the Iran conflict could ultimately support metals demand, citing increased reliance on electric vehicles, further investment in renewable energy, higher defense spending, and intensifying competition in the artificial intelligence race as key drivers of copper consumption.



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Copper Slips After Two-Day Rebound
Copper futures fell toward $6.1 per pound on Monday, snapping a two-day rebound as expectations of tighter US Federal Reserve policy continued to weigh on the outlook for industrial metals demand. Fed Chair Kevin Warsh reiterated the central bank's commitment to bringing inflation under control, reinforcing the hawkish tone of his debut earlier this month that prompted markets to scale back expectations for US rate cuts this year. Investors are now awaiting the latest US monthly jobs report later this week for fresh clues on labor market strength and the Fed's policy path. Meanwhile, Goldman Sachs said the Iran conflict could ultimately support metals demand, citing increased reliance on electric vehicles, further investment in renewable energy, higher defense spending, and intensifying competition in the artificial intelligence race as key drivers of copper consumption.
2026-06-29
Copper Pressured by Hawkish Fed Outlook
Copper futures hovered below $6 per pound on Friday, remaining near their lowest levels in seven weeks as a stronger US dollar and expectations of Federal Reserve interest rate hikes continued to weigh on sentiment. At its latest policy meeting, the Fed left rates unchanged but signaled growing support for tighter monetary policy, while Chair Kevin Warsh reiterated his commitment to restoring price stability. A firmer dollar makes dollar-priced commodities such as copper more expensive for buyers using other currencies, while the prospect of higher borrowing costs raises concerns about global economic growth and demand for industrial metals. Meanwhile, analysts noted that weakness in China’s traditional copper-consuming sectors has been only partially offset by solid demand from renewable energy, energy storage, and electronics-related industries.
2026-06-25
Copper traded below 6 USD/Lbs
Copper decreased below 6, according to trading on a contract for difference (CFD).
2026-06-24