Copper Hits 26-week Low

Copper futures climbed toward $6.60 per pound on Thursday, recovering from the previous session’s losses as supply disruptions in top producer Chile lent support to prices. Two unions at Antofagasta’s Centinela project launched industrial action on Wednesday, warning that the strike could begin affecting production within about two weeks, although the company maintained its output guidance. Chile also recently reported that copper production fell in August to its lowest level since February 2011. Meanwhile, the Trump administration has yet to decide whether to impose potential tariffs on refined copper. Earlier threats of US duties prompted traders to redirect shipments to American warehouses, contributing to the recent rally in prices. On the demand side, copper activity in top consumer China remains subdued following a weeklong national holiday, potentially creating room for restocking in the coming weeks.

Copper decreased to 5.58 USD/Lbs, the lowest since April 2026. Over the past 4 weeks, Copper lost 4.48%, and in the last 12 months, it increased 27.11%.

Copper futures climbed toward $6.7 per pound on Thursday, extending gains for the week as Chinese traders returned from a week-long holiday in a more optimistic mood. Strong earnings from South Korean chipmaker Samsung Electronics also boosted market sentiment, signaling solid spending on the global AI infrastructure buildout, which could support copper demand. On the supply side, Chilean production faced potential disruptions after two unions at Antofagasta’s Centinela project began industrial action on Wednesday and warned that the strike could start affecting output within roughly two weeks. Chile recently reported that copper production fell in August to its lowest level since February 2011. Meanwhile, the Trump administration has yet to decide whether to impose potential tariffs on refined copper. Earlier threats of US duties on refined metals prompted traders to redirect shipments toward American warehouses, contributing to the recent surge in copper prices.