Copper Finds Support as Tech Rout Eases

2026-11-02 07:17 By Jam Kaimo Samonte 1 min. read

Copper futures climbed toward $6.50 per pound on Monday, snapping a two-day decline as the selloff in technology stocks driven by AI concerns lost momentum, lifting sentiment toward the metal.

Copper remains a key material in the global AI expansion due to its widespread use in data centers, power grids, and electrical infrastructure, making prices particularly sensitive to shifts in technology sector sentiment.

Broader market sentiment also improved as oil prices declined following reports that President Donald Trump intends to allow more time for diplomatic efforts before deciding whether to resume military strikes against Iran.

Previously, elevated oil prices weighed on copper demand expectations amid concerns over potential central bank rate hikes and weaker global economic growth.

On the supply side, production from top copper producer Chile fell to its lowest level in at least two decades in the third quarter, with the country anticipating only a modest recovery next year.



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Copper Declines as Tech Selloff Resumes
Copper futures slipped toward $6.40 per pound on Tuesday, resuming the decline as renewed selling in technology stocks, driven by lingering concerns over artificial intelligence valuations, weighed on the metal. Copper remains an essential material in the global AI expansion, given its extensive use in data centers, power grids and electrical infrastructure, leaving prices vulnerable to shifts in technology sector sentiment. Investors also continued to factor in a potential Federal Reserve rate hike in December amid inflationary pressures stemming from higher energy costs linked to the Middle East conflict. However, signs of diplomatic progress between the US and Iran pushed oil prices lower. On the supply side, production constraints provided some support, as copper output in Chile, the world's leading producer, dropped to its lowest level in at least two decades during the third quarter. The country is expecting only a modest rebound in production next year.
2026-11-03
Copper Finds Support as Tech Rout Eases
Copper futures climbed toward $6.50 per pound on Monday, snapping a two-day decline as the selloff in technology stocks driven by AI concerns lost momentum, lifting sentiment toward the metal. Copper remains a key material in the global AI expansion due to its widespread use in data centers, power grids, and electrical infrastructure, making prices particularly sensitive to shifts in technology sector sentiment. Broader market sentiment also improved as oil prices declined following reports that President Donald Trump intends to allow more time for diplomatic efforts before deciding whether to resume military strikes against Iran. Previously, elevated oil prices weighed on copper demand expectations amid concerns over potential central bank rate hikes and weaker global economic growth. On the supply side, production from top copper producer Chile fell to its lowest level in at least two decades in the third quarter, with the country anticipating only a modest recovery next year.
2026-11-02
Copper is down by 2%
Copper decreased 2% to 6.4497 USD/Lbs
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