Copper Falls on Profit-Taking

2026-08-18 04:09 By Jam Kaimo Samonte 1 min. read

Copper futures fell to around $6.55 per pound on Tuesday, hitting a two-week low as investors locked in profits after the metal surged to record highs earlier this month.

The broader metals market also remained under pressure from rising oil prices, which kept inflationary risks and interest rate concerns in focus.

The moves came as prospects for a new agreement between the US and Iran dimmed after President Donald Trump said he was not interested in extending the interim peace deal.

Meanwhile, signs of tightening global copper supply continued to provide a floor for prices, as the metal keeps flowing to the US and China while becoming increasingly scarce elsewhere.

Top producer Chile also expects copper production to fall 2.6% this year amid persistent setbacks at mines and development projects.



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