Copper futures rose above $6 per pound on Wednesday, advancing for a second straight session as improving sentiment around a potential US-Iran agreement supported broader gains across the metals complex. The US reaffirmed its ceasefire with Iran, confirmed that offensive operations have ended, and temporarily paused efforts to assist stranded vessels exiting the Strait of Hormuz to allow time for renewed negotiations. Oil prices fell sharply, easing inflation concerns and reducing expectations that central banks may need to raise interest rates. Copper was also supported by supply-side risks, as disruptions linked to the Middle East conflict affected sulfur flows to China, prompting Beijing to restrict exports of sulphuric acid, an input crucial to nearly half of Chile’s copper refining capacity. On the demand side, continued investment by major technology companies in large-scale data center buildouts is reinforcing longer-term demand expectations for copper.

Copper rose to 6.08 USD/Lbs on May 6, 2026, up 2.36% from the previous day. Over the past month, Copper's price has risen 9.71%, and is up 32.50% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Copper reached an all time high of 6.58 in January of 2026. Copper - data, forecasts, historical chart - was last updated on May 6 of 2026.

Copper rose to 6.08 USD/Lbs on May 6, 2026, up 2.36% from the previous day. Over the past month, Copper's price has risen 9.71%, and is up 32.50% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper is expected to trade at 6.05 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.68 in 12 months time.



Price Day Month Year Date
Gold 4,690.80 134.79 2.96% -0.37% 38.94% May/06
Silver 76.71 3.912 5.37% 5.17% 136.35% May/06
Copper 6.08 0.1323 2.23% 9.57% 32.34% May/06
Steel 3,239.00 44.00 1.38% 4.89% 4.69% May/06
Lithium 187,500.00 10500 5.93% 17.92% 181.32% May/06
Platinum 2,035.10 59.80 3.03% 4.48% 108.94% May/06
Iron Ore 108.58 0.41 0.38% 0.57% 10.09% May/05



Related Last Previous Unit Reference
Chile Copper Production 378.55 413.71 Thousands of Tonnes Feb 2026
Peru Copper Production 226256.00 256647.00 Tonnes Jan 2026

Copper
Copper is one of the most widely used industrial metals in the world and is closely monitored as a barometer of global economic activity. It plays a critical role in construction, electronics, power generation, and renewable energy systems, making its price sensitive to changes in industrial demand and economic growth. Copper futures are actively traded on major exchanges, including the London Metal Exchange (LME) and the COMEX. Standard contracts typically represent 25,000 pounds of copper. On the supply side, Chile accounts for the largest share of global copper mining, followed by Democratic Republic of the Congo, Peru, China, and the United States. Major consumers and importers of copper include China, Japan, India, South Korea, and Germany. Copper prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
6.08 5.94 6.58 0.60 1988 - 2026 USd/LB Daily

News Stream
Copper Extends Gains for a Second Session
Copper futures rose above $6 per pound on Wednesday, advancing for a second straight session as improving sentiment around a potential US-Iran agreement supported broader gains across the metals complex. The US reaffirmed its ceasefire with Iran, confirmed that offensive operations have ended, and temporarily paused efforts to assist stranded vessels exiting the Strait of Hormuz to allow time for renewed negotiations. Oil prices fell sharply, easing inflation concerns and reducing expectations that central banks may need to raise interest rates. Copper was also supported by supply-side risks, as disruptions linked to the Middle East conflict affected sulfur flows to China, prompting Beijing to restrict exports of sulphuric acid, an input crucial to nearly half of Chile’s copper refining capacity. On the demand side, continued investment by major technology companies in large-scale data center buildouts is reinforcing longer-term demand expectations for copper.
2026-05-06
Copper Recovers from Week Losses
Copper futures in the US rose to over $5.95 per pound on Tuesday, the highest in a week, as energy prices eased off their peaks and eased concerns of lower demand for manufacturing across major economies. The US and Iran refrained from significant escalation to their war following strikes yesterday, easing inflationary risks that were pressuring industrial metals. Copper futures were around 15% higher this year, remaining close to their record high of $6.2 in late January as the war also dented supply of the metal. Top producer Chile faces supply risks as the conflict disrupts sulphur flows to China, prompting Beijing to curb exports of sulphuric acid, an input critical to nearly half of Chile’s copper refining capacity. On top of that, major tech companies continued to sign agreements that exponentially increase datacenter construction, supporting the outlook for copper due to its utility in electrification and grid technology.
2026-05-05
Copper Pressured by US–Iran Escalation
Copper futures stabilized near $5.85 per pound on Tuesday, but remained close to three-week lows after sliding more than 2% in the previous session, as escalating US–Iran tensions rattled global markets and raised concerns over demand. US forces repelled Iranian attacks while escorting two US-flagged vessels through the Strait of Hormuz, while the UAE’s Fujairah port was reportedly targeted in an Iranian drone strike. A major downside risk for industrial metals is an extended shutdown of the Strait of Hormuz, which could intensify the energy shock and prompt central banks to adopt a more hawkish policy stance, which may dampen manufacturing output and reduce demand for industrial commodities. On the supply side, copper stocks in warehouses monitored by the LME are still close to their highest levels since 2013, adding to the bearish outlook.
2026-05-05