Copper Pulls Back From Record High

2026-09-24 03:48 By Jam Kaimo Samonte 1 min. read

Copper futures hovered around $6.70 per pound on Thursday, below record levels as the dollar strengthened on robust US economic data that reinforced expectations for further Federal Reserve rate hikes.

A stronger dollar makes greenback-priced commodities such as copper more expensive for overseas buyers.

Still, the metal remains supported by persistent supply risks, with BHP Group announcing that mining operations had been suspended at the giant Escondida mine in Chile following the death of a worker.

Metals trader Sprott Asset Management also said global mined copper production could decline this year for the first time since 2017, while disruptions at major mines in Indonesia and the Democratic Republic of Congo have reduced expected annual output by an estimated 600,000 tons.

On the demand side, consumption remains robust across power grids, AI data centers and the defense sector, while the recent rally in technology and AI stocks has further strengthened the demand outlook.



News Stream
Copper Pulls Back From Record High
Copper futures hovered around $6.70 per pound on Thursday, below record levels as the dollar strengthened on robust US economic data that reinforced expectations for further Federal Reserve rate hikes. A stronger dollar makes greenback-priced commodities such as copper more expensive for overseas buyers. Still, the metal remains supported by persistent supply risks, with BHP Group announcing that mining operations had been suspended at the giant Escondida mine in Chile following the death of a worker. Metals trader Sprott Asset Management also said global mined copper production could decline this year for the first time since 2017, while disruptions at major mines in Indonesia and the Democratic Republic of Congo have reduced expected annual output by an estimated 600,000 tons. On the demand side, consumption remains robust across power grids, AI data centers and the defense sector, while the recent rally in technology and AI stocks has further strengthened the demand outlook.
2026-09-24
Copper Hits All-Time High
Copper futures climbed toward $6.8 per pound on Wednesday before paring gains, touching fresh all-time highs as persistent supply concerns and strong demand continued to drive prices higher. Metals trader Sprott Asset Management said global mined copper production could decline this year for the first time since 2017 due to supply disruptions, declining ore grades and weak output from Chile. Disruptions at major mines in Indonesia and the Democratic Republic of Congo have also reduced expected annual production by an estimated 600,000 tons. On the demand side, consumption remains robust across power grids, AI data centers and the defense sector, while the recent rally in technology and AI stocks has further strengthened the demand outlook. Elsewhere, traders are monitoring US copper tariff plans, with the Commerce Department proposing duties of 15% from January 2027 and 30% from 2028, pending a presidential decision.
2026-09-23
Copper Hits All-time High
Copper increased to an all-time high of 6.83 USD/Lbs. Over the past 4 weeks, Copper gained 3.21%, and in the last 12 months, it increased 48.7%.
2026-09-22