Copper Set for Weekly and Monthly Gains

Copper futures climbed above $6.45 per pound on Friday and were on track to finish the week and the month about 2% and 4% higher, respectively. The gains followed the US Federal Reserve’s decision to leave interest rates unchanged this week, easing concerns over the demand outlook for industrial metals. In top consumer China, the Politburo signaled it would continue relying on existing policy measures rather than introducing broad-based stimulus, emphasizing the need to “fully use” current tools while directing fiscal spending and bond issuance toward boosting demand and improving supply. Meanwhile, copper continued to find support from its strong long-term demand outlook, underpinned by the global transition to clean energy and the rapid expansion of artificial intelligence data centers.

Copper decreased to 5.99 USD/Lbs, the lowest since June 2026. Over the past 4 weeks, Copper gained 5.67%, and in the last 12 months, it increased 46.95%.

Copper futures climbed to around $6.33 per pound on Thursday, recovering from the previous session’s losses as investors welcomed the Federal Reserve’s decision to leave interest rates unchanged, easing concerns about the demand outlook for industrial metals. However, three FOMC members dissented in favor of a rate hike, while Chair Kevin Warsh stressed that the decision to keep rates steady should not be viewed as a sign of policy inertia. Meanwhile, investors looked ahead to updates from the Politburo meeting in top consumer China, where policymakers are widely expected to refrain from announcing major new stimulus measures and instead focus on implementing existing fiscal policies to support the slowing economy. Elsewhere, the red metal continued to draw support from its favorable long-term demand outlook, driven by the global shift toward clean energy and the rapid expansion of artificial intelligence data centers.