Copper Hits 5-week Low

Copper decreased to 6.35 USD/Lbs, the lowest since September 2026. Over the past 4 weeks, Copper lost 4.69%, and in the last 12 months, it increased 25.5%.

Copper decreased 2.01% to 6.4115 USD/Lbs

Copper futures fell to around $6.40 per pound, reaching their lowest level in five weeks as a global selloff in artificial intelligence stocks dampened sentiment toward the metal. Copper remains a key beneficiary of AI expansion due to its essential role in data centers and power infrastructure. Prices also faced pressure this week amid speculation that the US may abandon proposed tariffs on refined copper imports. Markets increasingly expect the Trump administration to reconsider the measures ahead of the midterm elections, as global supplies tighten and inflationary pressures persist. Copper prices hit record highs last month after traders redirected shipments to US warehouses in anticipation of potential tariffs, reducing availability in other major markets. Meanwhile, supply concerns remain elevated amid the risk of labor strikes at major mining companies due to ongoing labor disputes.