Copper ($COPPER) Commodity Forecast: Up 9.8% Today

What is Copper?

Copper is a widely used industrial metal, known for its conductivity and corrosion resistance. It is a key component in various industries, including construction, electronics, and transportation. The market for copper is influenced by factors such as global economic growth, trade policies, and supply-demand dynamics.

Why is Copper going up?

COPPER commodity is up 9.8% on Jul 9, 2025 11:40

• Copper experienced a strong bullish movement today, reaching record highs in the futures market.
• The surge in copper prices was driven by an announcement of a 50% tariff on copper imports to the US, aimed at boosting domestic production and reducing reliance on foreign supply.
• The tariff news led to heightened market volatility and uncertainty, with traders anticipating tighter global supplies and increased premiums for US copper futures.
• The decline in copper prices in Shanghai and London could be attributed to concerns over demand, particularly from Chinese fabricators, amidst elevated prices and trade tensions.

COPPER Price Chart

COPPER Technical Analysis

COPPER News

Copper Trims Surge, US Premiums Hold Record High

Copper futures in the US were at $5.5 per pound, easing from the record high of $5.7 touched earlier in the session but still hovering 10% higher than Monday's close after President Trump signaled that the metal would be tariffed at 50%. The US President said that copper would be tariffed shortly after they conclude tariffs on pharmaceuticals, but refrained from giving details on the timing, potential grace periods, and grades of metal. This drove the premium between US copper and comparable futures at the LME to 25%, a record high, as foreign benchmarks declined, signaling the end of increasing domestic stockpiles as traders moved copper into the US since tariff threats on base metals started in February. If implemented, the tariff would threaten the domestic supply as ore output is relatively low. Refining capacity would be stressed, as the country only has two smelters.

Copper Hits Record High as Trump Unveils 50% Import Tariff

Copper futures in the US held above $5.7 per pound on Wednesday after surging more than 13% in the previous session, as US President Donald Trump announced plans to impose a 50% tariff on copper imports. The move is aimed at bolstering domestic production and reducing reliance on foreign supply as the US currently imports nearly half of its copper, with Chile as the primary source. The new tariff brings copper in line with existing 50% duties on steel and aluminum, further escalating trade tensions and fueling volatility in the metals market. US Commerce Secretary Howard Lutnick confirmed that the investigation into copper imports has concluded, and said he expects Trump to sign a formal proclamation by the end of July. Traders anticipate the higher premium will attract more shipments into the US in the short term, potentially tightening global supplies and exacerbating market imbalances. Meanwhile, copper futures in Shanghai and London declined.

Copper Futures Hit Record High After Trump's Import Tariff

Copper futures soared over 10% to above $5.5 per pound on Tuesday, reversing falls in the last three sessions, after President Trump announced plans to impose a 50% tariff on copper imports to the US. Speaking during a White House cabinet meeting, Trump said, “Today we’re doing copper,” while Commerce Secretary Howard Lutnick confirmed the tariff rate. Although the president did not specify when the tariff would take effect, he has authority to implement it once an ongoing investigation concludes, with a final decision expected by November. The US had launched the probe in February to support domestic production and attract investment in new capacity. Traders expect the premium to lure more copper shipments into the US. The move aligns copper tariffs with existing 50% duties on steel and aluminum, escalating trade tensions and volatility in the metals market.

Copper is down by 2%

Copper decreased 2% to 4.9942 USD/Lbs

Copper Falls on Renewed Demand Concerns

Copper futures slipped toward $5 per pound on Friday, extending losses for a second straight session as renewed demand concerns weighed on sentiment. Analysts pointed to waning interest from Chinese fabricators amid elevated prices, dampening the bullish momentum that drove copper to three-month highs earlier this week. The recent rally had been fueled by tightening global supplies and tariff-related uncertainty, with traders to redirecting shipments to the US in anticipation of potential import duties. This shift led to notable inventory drawdowns at both the London Metal Exchange and the Shanghai Futures Exchange. However, analysts cautioned that the rally may quickly reverse if US demand softens or if upcoming tariff announcements fall short of market expectations.

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Copper Price History

09.03.2025 - COPPER Commodity was up 8.7%

• Copper price surged by 8% to $4.4 per pound.
• The market movement was primarily driven by the decision to pause reciprocal tariffs for 90 days, easing concerns about trade barriers impacting global growth and manufacturing demand.
• Despite the recent rally, copper futures are still down nearly 20% from their record high due to ongoing trade tensions and uncertainties surrounding future tariffs.
• The premium of copper futures in the US widened against comparable contracts in the LME, reflecting concerns about limited US smelting capacity and the potential impact of trade barriers on the industry.

09.04.2025 - COPPER Commodity was up 1.3%

• The bullish movement in Copper today can be attributed to signs of robust demand in China, the world's largest consumer of the metal. Strong procurement activity from State Grid Corp of China and a surge in home appliance sales indicate healthy consumer demand, boosting market sentiment.
• The upcoming meeting between US and Chinese representatives in Switzerland to discuss trade issues has raised optimism around a potential deal, further supporting the demand outlook for copper.
• On the flip side, recent reports of disappointing manufacturing PMI reports in major economies and increasing copper inventories in North American warehouses have put pressure on copper prices, reflecting concerns about weaker global demand and oversupply in the market.
• The market movement also reflects the impact of evolving global trade dynamics, with investors closely monitoring developments such as potential tariff negotiations and policy rate cuts by China's central bank in response to US tariffs.

09.06.2025 - COPPER Commodity was up 9.8%

• Copper experienced a strong bullish movement today, reaching record highs in the futures market.
• The surge in copper prices was driven by an announcement of a 50% tariff on copper imports to the US, aimed at boosting domestic production and reducing reliance on foreign supply.
• The tariff news led to heightened market volatility and uncertainty, with traders anticipating tighter global supplies and increased premiums for US copper futures.
• The decline in copper prices in Shanghai and London could be attributed to concerns over demand, particularly from Chinese fabricators, amidst elevated prices and trade tensions.

09.06.2025 - COPPER Commodity was up 9.9%

• The bullish movement in copper prices was driven by a recent announcement regarding a significant tariff on copper imports to the US, intended to increase domestic production and decrease reliance on foreign supply.
• Market analysts anticipate that the tariff implementation may result in higher shipments into the US in the near term, potentially leading to tighter global supplies and market imbalances.
• The announcement of the tariff has heightened trade tensions and volatility in the metals market, aligning it with existing duties on steel and aluminum.
• Despite the upward movement, concerns about reduced demand from Chinese fabricators and the possible effects of upcoming tariff announcements on US demand could potentially reverse the recent surge in copper prices.

26.05.2025 - COPPER Commodity was up 3.5%

• Copper prices saw a surge as global inventories decreased, reaching a three-week high due to a substantial influx of around 400 kilotons of copper into the US before possible tariffs, tightening the global supply.
• Geopolitical developments, including reduced tensions in the Middle East and a US-mediated truce between Israel and Iran, added to the upward momentum in copper prices.
• Analysts noted that while the current inventory situation is boosting prices, there are concerns that the finalization of proposed tariffs on copper imports in the US could lead to a decrease in purchases by US customers, potentially impacting short-term demand and prices.
• Despite these uncertainties, Chinese copper demand remained strong, contributing to the positive overall outlook for copper prices in today's market.

08.06.2025 - COPPER Commodity was up 9.5%

• The bullish movement in copper prices can be attributed to recent announcements regarding tariff changes on copper imports to the US. This has resulted in a surge in copper futures, reaching record highs above $5.5 per pound.
• Traders are anticipating an increase in copper shipments to the US following the tariff adjustments, leading to notable inventory drawdowns at major exchanges. This change in shipment patterns is causing a price premium and tightening global supplies, further supporting the bullish momentum in copper prices.
• However, there are concerns about decreasing demand from Chinese fabricators and the potential impact of tariffs on US import demand, which could potentially lead to a reversal in the copper rally if market expectations are not met. The market is sensitive to trade tensions and global economic conditions, which could impact future price movements.

08.06.2025 - COPPER Commodity was up 11.3%

• Recent bullish movement in copper prices stemmed from tightening global supplies and uncertainty surrounding tariffs, leading traders to redirect shipments to the US in anticipation of potential import duties.
• Concerns about reduced demand from Chinese fabricators due to high prices contributed to a 2% decrease in copper prices.
• The potential implementation of a 10% levy on US copper imports and the widening price difference between Comex and LME contracts increased market volatility.
• Despite positive demand outlook in China and reduced trade tensions with the US providing some price support, analysts warned that any weakening in US demand or unmet tariff expectations could reverse the recent price rally swiftly.

30.03.2025 - COPPER Commodity was down 6.1%

• Copper futures experienced a significant drop due to increasing trade tensions between the US and China, impacting global manufacturing demand and sentiment.
• A sudden shrink in Chinese manufacturing activity and uncertainties regarding trade negotiations added to the pessimistic tone, resulting in a 2% decline in copper prices.
• Despite recent spikes driven by tariff suspensions and exemptions, persistent trade uncertainty and a subdued demand outlook contributed to the downward pressure on copper prices.
• Investors are closely observing economic growth data from the US and Eurozone for additional insights into global demand and industrial activity, which may continue to influence copper prices in the short run.

30.03.2025 - COPPER Commodity was down 5.0%

• Copper declined by 2% to $4.7154 USD/Lbs in today's trading session.
• Ongoing US-China trade uncertainty influenced the market sentiment, with tensions between the two countries having an impact on copper prices.
• Weaker-than-expected Chinese manufacturing data also contributed to the bearish movement, highlighting the effects of trade-related challenges on production.
• The strengthening of the US dollar, fueled by indications of reduced global trade tensions and positive expectations for trade talks, added pressure on copper prices as a dollar-denominated commodity.

30.03.2025 - COPPER Commodity was down 5.1%

• Copper futures plunged to $4.55 per pound from recent highs, driven by low demand and ample supply exacerbated by unwinding arbitrage traders in China.
• The unexpected contraction in Chinese manufacturing activity and escalating trade tensions between the US and China further weighed on copper prices.
• The threat of tariffs by the US, particularly on copper imports, added to the bearish sentiment and raised concerns about oversupply and limited smelting capacity.
• Despite a recent surge in copper prices due to the suspension of reciprocal tariffs by the US government, the market sentiment turned bearish again amid fears of a global economic slowdown and trade uncertainties.

10.03.2025 - COPPER Commodity was up 5.1%

• Copper futures surged by 8.5% to $4.4 per pound after hitting three-month lows, as a recent decision to pause reciprocal tariffs for 90 days eased concerns over global growth and manufacturing demand.
• The rally in copper prices was driven by improved investor sentiment following changes in trade policy, which lowered tariffs on imports and alleviated fears of trade barriers impacting economic activity.
• Despite the positive momentum, uncertainty remains as the trade war between two countries continues, with the possibility of targeted tariffs on copper still looming in the near future.
• The fluctuating copper prices reflect the ongoing volatility in the commodity market, influenced by geopolitical tensions and trade negotiations that impact supply chains and demand dynamics.

10.03.2025 - COPPER Commodity was up 6.5%

• Copper futures surged above $4.40 per pound as investor sentiment improved following a decision to lower tariffs on imports, easing concerns over global growth and manufacturing demand.
• The bullish movement was further fueled by hopes of countries reaching deals to remove trade barriers with a certain country, despite lingering uncertainty over potential tariffs targeting copper directly.
• Despite recent declines and fears of a global recession triggered by an escalating trade war, copper prices received a boost from supply concerns and relief that the metal was excluded from new tariffs, contributing to the bullish market movement.
• The market's positive reaction to the shift in trade policy and the temporary pause on reciprocal tariffs underscored the sensitivity of copper prices to trade developments and economic outlook, highlighting the metal's role as a key indicator of economic activity.