Copper Gains on Risk-On Mood

2026-10-06 03:54 By Jam Kaimo Samonte 1 min. read

Copper futures rose to around $6.6 per pound on Tuesday, advancing for a third consecutive session amid a rally in risk assets, highlighted by gains in technology and artificial intelligence stocks.

Demand for copper is benefiting from the rapid expansion of data centers and power infrastructure required to support AI development.

Still, the near-term demand outlook remains constrained by signs of weakening industrial activity in China, the world’s largest consumer of the metal.

On the supply side, Chilean copper output dropped in August to its lowest level since February 2011, while workers at Antofagasta’s Centinela mine voted in favor of strike action after wage negotiations failed to reach an agreement.

Meanwhile, the Trump administration has yet to decide on potential tariffs targeting refined copper.

Earlier threats of US duties on refined metals encouraged traders to divert shipments toward American warehouses, contributing to the recent surge in copper prices.



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Copper Gains on Risk-On Mood
Copper futures rose to around $6.6 per pound on Tuesday, advancing for a third consecutive session amid a rally in risk assets, highlighted by gains in technology and artificial intelligence stocks. Demand for copper is benefiting from the rapid expansion of data centers and power infrastructure required to support AI development. Still, the near-term demand outlook remains constrained by signs of weakening industrial activity in China, the world’s largest consumer of the metal. On the supply side, Chilean copper output dropped in August to its lowest level since February 2011, while workers at Antofagasta’s Centinela mine voted in favor of strike action after wage negotiations failed to reach an agreement. Meanwhile, the Trump administration has yet to decide on potential tariffs targeting refined copper. Earlier threats of US duties on refined metals encouraged traders to divert shipments toward American warehouses, contributing to the recent surge in copper prices.
2026-10-06
Copper Rises as Fed Rate Hike Bets Ease
Copper futures climbed above $6.5 per pound on Monday, recovering some of last week’s losses as weaker-than-expected US jobs data reduced pressure on the Federal Reserve to raise interest rates further. Higher interest rates would generally weigh on non-yielding assets such as commodities. Longer-term demand expectations tied to the global expansion of data centers and renewable energy also supported copper, although the near-term outlook remained pressured by signs of slowing industrial activity in top consumer China. On the supply side, Chilean production fell in August to its lowest level since February 2011, while workers at Antofagasta’s Centinela mine voted to strike after wage negotiations broke down. Elsewhere, the Trump administration has so far delayed a decision on tariffs for refined copper. Earlier threats of US tariffs on refined metals prompted traders to redirect shipments into American warehouses, helping drive a rally in copper prices.
2026-10-05
Copper Set for Weekly Drop
Copper futures steadied around $6.52 per pound on Friday, but remained on track for a nearly 3% weekly decline as signs of weakening industrial activity in top consumer China weighed on the demand outlook. The metal also came under pressure from a stronger dollar, elevated bond yields and rising oil prices, as the risk of an escalation in the US-Iran conflict heightened concerns over inflation. Supply developments remained in focus, with Chilean output potentially disrupted by a strike at a site owned by Antofagasta Plc, while Panama’s government proposed resuming operations at a major mine in the country. Elsewhere, the Trump administration has so far postponed a decision on tariffs on refined copper. Previous threats of US tariffs on refined metals prompted traders to redirect shipments to American warehouses and helped fuel a rally in copper prices.
2026-10-02