Copper Rebounds on China Supply Tightness

2026-11-09 04:31 By Jam Kaimo Samonte 1 min. read

Copper futures climbed above $6.30 per pound on Monday, recovering from near four-month lows as signs of tightening supply in China, the world’s largest copper consumer, provided support, with import premiums reaching record highs.

Industry data showed that the Yangshan copper premium, a key indicator of Chinese demand for imported copper, surged to $215 per ton, while the domestic premium over SHFE contracts climbed to 2,615 yuan.

Meanwhile, copper inventories tracked by the Shanghai Futures Exchange dropped sharply to 33,848 tons last week, their lowest level since early January 2024.

Prices also gained support from a recovery in global equity markets as concerns over stricter Democratic-led AI industry regulations eased.

Copper benefits directly from the global AI expansion due to its essential role in data centers and power generation.

Additionally, the Democrats’ sweeping midterm victory reduced the likelihood of Trump’s proposed tariffs on refined copper.



News Stream
Copper Rebounds on China Supply Tightness
Copper futures climbed above $6.30 per pound on Monday, recovering from near four-month lows as signs of tightening supply in China, the world’s largest copper consumer, provided support, with import premiums reaching record highs. Industry data showed that the Yangshan copper premium, a key indicator of Chinese demand for imported copper, surged to $215 per ton, while the domestic premium over SHFE contracts climbed to 2,615 yuan. Meanwhile, copper inventories tracked by the Shanghai Futures Exchange dropped sharply to 33,848 tons last week, their lowest level since early January 2024. Prices also gained support from a recovery in global equity markets as concerns over stricter Democratic-led AI industry regulations eased. Copper benefits directly from the global AI expansion due to its essential role in data centers and power generation. Additionally, the Democrats’ sweeping midterm victory reduced the likelihood of Trump’s proposed tariffs on refined copper.
2026-11-09
Copper Hits 17-week Low
Copper decreased to 6.18 USD/Lbs, the lowest since July 2026. Over the past 4 weeks, Copper lost 6.2%, and in the last 12 months, it increased 24.81%.
2026-11-05
Copper Falls to Four-Month Low
Copper fell to $6.25 per pound, the lowest since early July, as concerns over tighter regulation and opposition to AI data center projects raised doubts about future demand for the metal. Technology stocks plunged, with an ETF tracking US-listed semiconductor companies losing more than 12%, after Democrats secured control of both chambers of Congress in the midterm elections. The political shift could increase scrutiny of data center development, potentially delaying or blocking infrastructure projects that had been expected to drive significant copper consumption. Democratic gubernatorial victories in several states, including Texas, could expose around half of proposed US AI data center additions to greater regulatory challenges. Texas Governor-elect Gina Hinojosa has repeatedly called for an immediate moratorium on new data center projects. Copper reached a record high of $6.8 on September 10, partly on AI-related demand.
2026-11-05