Copper Holds Decline on Easing Supply Worries

2026-09-15 02:51 By Jam Kaimo Samonte 1 min. read

Copper futures traded near $6.3 per pound on Tuesday, hovering at seven-week lows as fresh deliveries to London warehouses eased concerns over supply.

Warehouses monitored by the London Metal Exchange recorded their largest inflows of the metal in nearly four weeks, pushing London prices into contango and signaling ample availability.

Copper prices surged to record highs last week as traders redirected shipments to US warehouses ahead of potential tariffs on refined metal, before retreating sharply following reports that the Trump administration had postponed a decision on the matter.

The broader metals complex also remained under pressure ahead of an expected US Federal Reserve interest rate hike this week.

Elsewhere, data from top consumer China showed industrial output expanded more than expected in August, while retail sales, fixed asset investment and new home prices pointed to continued weakness in economic activity.



News Stream
Copper Holds Decline on Easing Supply Worries
Copper futures traded near $6.3 per pound on Tuesday, hovering at seven-week lows as fresh deliveries to London warehouses eased concerns over supply. Warehouses monitored by the London Metal Exchange recorded their largest inflows of the metal in nearly four weeks, pushing London prices into contango and signaling ample availability. Copper prices surged to record highs last week as traders redirected shipments to US warehouses ahead of potential tariffs on refined metal, before retreating sharply following reports that the Trump administration had postponed a decision on the matter. The broader metals complex also remained under pressure ahead of an expected US Federal Reserve interest rate hike this week. Elsewhere, data from top consumer China showed industrial output expanded more than expected in August, while retail sales, fixed asset investment and new home prices pointed to continued weakness in economic activity.
2026-09-15
Copper Extends Fall on Hawkish Fed Bets
Copper futures fell to around $6.4 per pound on Monday, extending last week’s losses to hit six-week lows as firm expectations for a US Federal Reserve rate hike weighed on risk-sensitive assets. Traders increased their bets on a Fed rate increase following Friday’s stronger-than-expected US inflation data, with markets currently pricing in around an 86% probability that the Fed will raise its policy rate by 25 basis points on Wednesday. Oil prices also surged after Saudi Arabia shut down the critical East-West pipeline that bypasses the Strait of Hormuz, raising concerns over inflation. Last Thursday, copper prices plunged nearly 5% following reports that the Trump administration had delayed a decision on tariffs for refined copper imports. US officials were reportedly concerned that the proposed levies could drive domestic copper prices even higher and further increase manufacturing costs.
2026-09-14
Copper Holds Decline as Tariff Fears Ease
Copper futures traded around $6.45 per pound on Friday after plunging nearly 5% in the previous session, pressured by reports that the US is reconsidering plans to impose import tariffs on refined metals. US officials were reportedly concerned that the proposed levies could push domestic copper prices even higher and increase manufacturing costs. The metal surged to record highs earlier this week as traders redirected shipments to US warehouses to capitalize on tariff-driven gains in local prices, tightening global supplies. This came amid ongoing shortages of sulfuric acid for major copper refiners worldwide, as supply pressures from GCC countries prompted China to suspend exports. Mined supply has also weakened, with Codelco and Freeport-McMoRan reportedly posting double-digit production declines, shortly after the International Copper Study Group pointed to a 1.1% drop in global output during the first half of the year.
2026-09-11