Copper ($COPPER) Commodity Forecast: Down 5.2% Today

What is Copper?

Copper is a widely used industrial metal known for its conductivity and versatility. It is heavily influenced by factors such as supply and demand dynamics, global economic conditions, and geopolitical events.

Why is Copper going down?

COPPER commodity is down 5.2% on Feb 6, 2026 0:11

• There was a bearish movement in copper due to rising supplies in China and increasing inventories at major trading hubs, which resulted in downward pressure on prices.
• The decline in copper prices was influenced by a slowdown in purchases from Chinese fabricators and manufacturers, along with a broad metals selloff.
• Market sentiment changed as investors noted soft physical demand and ample supply of copper, leading to a sharp reversal from the recent speculative rally.
• Despite recent losses, copper is supported by expectations of increased long-term demand from global renewable energy projects and AI data centers, as well as ongoing supply risks due to underinvestment in new mining projects.

COPPER Price Chart

COPPER Technical Analysis

COPPER News

Copper Pressured by Supply Concerns

Copper held below $5.85 per pound on Thursday after losing nearly 4% in the previous session, weighed down rising supplies in top consumer China. An industry group has forecasted that the country’s refined copper output will likely rise by about 5% this year following a 10% increase last year. Rising stockpiles in major trading hubs, particularly LME warehouses in Asia, also weighed on prices, signaling that supplies initially destined for the US may have been redirected elsewhere. On the demand side, purchases from Chinese fabricators and manufacturers slowed for a second consecutive day on Wednesday as businesses prepare for the Lunar New Year holidays. The dip-buying earlier this week also faded as precious metals, especially gold and silver, came under renewed selling pressure.

Copper Slips on Rising Inventories

Copper fell about 1% to $6 per pound on Wednesday, trimming gains from the previous session amid rising inventories at major trading hubs in Shanghai, London, and New York. The red metal decoupled from gold and silver, which climbed for a second day on safe-haven demand, as investors assessed soft physical demand and ample supply for copper. On Tuesday, copper had surged nearly 5% in its best one-day gain since November 2022, driven by a broad rebound in metals after a historic drop. Chinese manufacturers also bought to replenish inventories at lower prices, while a state-backed industry group urged authorities to increase strategic reserves of the metal. In corporate developments, Glencore agreed to sell 40% of its stakes in two African copper operations to a US government-backed group, as Washington seeks greater control over critical minerals.

Copper Gains as Metals Selloff Abates

Copper rose above $5.85 per pound on Tuesday, rebounding from a sharp two-day selloff as volatility in the metals market eased and dip buyers stepped in. Chinese manufacturers also returned to the market, purchasing copper at lower levels to restock ahead of the Lunar New Year holiday. Longer-term support remains in place due to expectations of higher demand from global renewable energy projects and AI data centers. Additionally, supply risks persist following decades of underinvestment in new mining projects. Copper plunged as much as 15% from an all-time high reached last week as the speculative rally gave way to profit-taking, with Chinese speculators quickly unwinding long bets as sentiment shifted. The downturn intensified after US President Donald Trump nominated Kevin Warsh to become the next Fed chair, widely seen by markets as a hawkish candidate.

Copper Hits 4-week Low

Copper decreased to 5.69 USD/Lbs, the lowest since January 2026. Over the past 4 weeks, Copper lost 4.32%, and in the last 12 months, it increased 32.53%.

Copper Extends Losses in Broad Metal Selloff

Copper fell nearly 2% toward $5.8 per pound on Monday, extending sharp losses from the previous session as the broader metals selloff continued for a second day. The red metal is now down more than 11% from last week’s all-time high. On Friday, copper retreated ahead of gold and silver as the speculative rally that pushed prices to record levels met a wave of profit-taking, while investors reassessed the fundamentals behind the surge. The decline was most pronounced in China, where intense investor interest and market speculation had added froth to the rally, setting the stage for a sharp reversal once sentiment shifted. US President Donald Trump’s nomination of Kevin Warsh, widely seen as a hawkish choice, also contributed to the drop in metals prices. Still, copper remains supported by expectations of higher long-term demand amid constrained supply following decades of underinvestment in new mining projects.

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Copper Price History

28.10.2025 - COPPER Commodity was up 5.0%

• Copper futures surged to a 4-month high above $5.1 per pound due to multiple mine disruptions from major producers, including a fatal incident at a mine in Indonesia, leading to supply constraints.
• Chilean producer Codelco offering record-high prices to Chinese buyers signaled a potential shift towards prioritizing US consumers, reinforcing the bullish outlook for copper in the long term.
• Expectations of the US Federal Reserve lowering borrowing costs again this year added to the positive sentiment, supporting domestic manufacturers and dollar-priced commodities, including copper.
• The upcoming industry meeting in China, where miners are expected to push for tougher supply terms for 2026, also contributed to the bullish momentum in copper prices.

28.10.2025 - COPPER Commodity was up 4.5%

• Copper futures saw a notable increase, reaching a four-week peak following a strategic move by Chilean company Codelco to propose premium prices for Chinese purchasers, indicating a potential shift towards favoring US buyers. This development, combined with expectations of a more aggressive approach to monetary policy by the US Federal Reserve, contributed to the bullish atmosphere in the copper market.
• Anticipation surrounding an upcoming significant industry gathering in China, where discussions on stricter supply agreements for 2026 are anticipated, prompted investors to take strategic positions. The outlook of tightening supply conditions, along with renewed positivity regarding possible interest rate adjustments, further boosted copper prices.
• Support for copper prices was reinforced by cautious statements from a senior US Federal Reserve official, as well as indications of supply constraints such as Codelco's proposal of a record premium for metal destined for South Korea. Favorable market dynamics were also influenced by the restart of operations at Indonesia's Grasberg mine and a decrease in copper cathode imports in China.

05.00.2026 - COPPER Commodity was up 5.0%

• Copper prices rose to near all-time highs due to global supply limitations and strong demand.
• Concerns about potential US tariffs and supply disruptions in major copper-producing countries contributed to the upward price trend.
• The metal's impressive performance was driven by its importance in electrification technologies and infrastructure development for artificial intelligence, highlighting the shift towards cleaner energy sources.
• Despite some profit-taking in recent times, copper is set to achieve its largest annual gain since 2009, demonstrating its resilience and appeal to investors in a changing market environment.

05.00.2026 - COPPER Commodity was up 5.1%

• Copper surged to an all-time high of $5.94 per pound, marking a significant increase over the past year.
• Tightening global supply conditions, including disruptions in major mines like Mantoverde in Chile and Grasberg in Indonesia, have supported the price rally.
• Traders redirected shipments to the US amid concerns over potential tariffs and supply risks, further driving up prices.
• The metal's demand remains robust due to its extensive use in electrification technologies and infrastructure development, contributing to its impressive performance in the market.

30.00.2026 - COPPER Commodity was down 6.1%

• Copper futures observed a notable downward trend, declining by over 3% to approximately $6 per pound. This shift followed a recent price surge, driving the metal to historic highs due to multiple factors like heightened demand for tangible assets, geopolitical uncertainties, and a weakening dollar.
• The decline in copper prices can be understood as investors seizing profits subsequent to the significant upsurge in metal prices. The retreat in the metals market, encompassing copper, gold, and silver, was influenced by a modest dollar recovery and a reassessment of the fundamental rationale behind the recent speculative surge.
• Investor sentiment towards copper altered as they searched for tangible assets amidst economic ambiguity and apprehensions regarding the dollar's stability. Persistent tariff tensions initiated by US President Donald Trump additionally contributed to the fluctuating metal prices, showcasing the ongoing influence of geopolitical events on commodity markets.

03.01.2026 - COPPER Commodity was up 5.1%

• Copper surpassed $5.85 per pound today, rebounding strongly from recent losses.
• The market movement is due to the calming of volatility in the metals market, as Chinese manufacturers start restocking before the Lunar New Year holiday.
• Expectations of increased demand from global renewable energy projects and AI data centers, along with supply risks from underinvestment in new mining projects, are providing long-term support for copper prices.
• The recent bearish trend in copper prices, which saw a 2% decrease and hit a 4-week low, was influenced by profit-taking following a speculative rally, reassessment of market fundamentals, and the nomination of a hawkish Fed chair candidate.

25.10.2025 - COPPER Commodity was down 0.3%

• Copper prices fell sharply as signs of soft demand in China, particularly in the property sector and power grid spending, weighed on the market sentiment.
• Expectations that the US Federal Reserve may not cut interest rates in December also contributed to the bearish trend, with recent signals of cautious policy adjustments amid economic uncertainty.
• The ongoing supply concerns supported copper prices previously, but the market sentiment turned bearish today due to the combination of weak demand indicators and Fed's cautious stance on rate cuts.
• Despite previous support from tightening supply and supply disruptions such as the incidents at the Grasberg mine in Indonesia and the copper mine collapse in Congo, the market sentiment shifted towards a bearish outlook today.

29.00.2026 - COPPER Commodity was up 8.1%

• Copper prices surged to all-time highs due to rising demand for real assets amidst geopolitical and trade uncertainties, and a weakening dollar.
• US President Trump's threats against Iran and other nations, along with a declining dollar, fueled the flight to metals like copper.
• The metal is also supported by supply tightness, robust industrial demand driven by renewable energy and artificial intelligence, and growing retail investor interest.
• Despite signs of softening demand in China and rising global inventories, the overall bullish trend in copper prices is sustained by these factors.

29.00.2026 - COPPER Commodity was up 5.1%

• Copper surged to all-time highs above $6.2 per pound driven by rising demand for real assets amidst geopolitical and trade uncertainties, alongside a weakening dollar.
• Recurring tariff threats by governmental figures, coupled with supply tightness and robust industrial demand from renewable energy and AI sectors, further fueled the rally in copper prices.
• Despite recent drops due to rising inventories in a significant market, copper continues to benefit from a weaker currency, growing retail investor interest, and structural demand tied to renewable energy and electrification.
• The market's bullish sentiment towards copper is also supported by insufficient supply following decades of underinvestment in new mining projects, as well as increasing investment in specific infrastructure projects.

06.01.2026 - COPPER Commodity was down 5.2%

• There was a bearish movement in copper due to rising supplies in China and increasing inventories at major trading hubs, which resulted in downward pressure on prices.
• The decline in copper prices was influenced by a slowdown in purchases from Chinese fabricators and manufacturers, along with a broad metals selloff.
• Market sentiment changed as investors noted soft physical demand and ample supply of copper, leading to a sharp reversal from the recent speculative rally.
• Despite recent losses, copper is supported by expectations of increased long-term demand from global renewable energy projects and AI data centers, as well as ongoing supply risks due to underinvestment in new mining projects.

10.09.2025 - COPPER Commodity was down 5.9%

• Today's decline in copper prices is linked to President Trump's considerations of imposing higher tariffs on Chinese imports, sparking fears of an escalation in the US-China trade conflict.
• Supply disruptions in major copper-producing nations such as Chile and Indonesia, stemming from accidents and operational difficulties, are contributing to the downward pressure on copper prices.
• Market participants engaging in profit-taking activities have been noted, potentially exacerbating the selling momentum in copper futures, despite ongoing supply constraints.
• The current bearish trend in copper prices reflects the intricate interplay of trade tensions, supply interruptions, and profit-taking behaviors, underscoring the commodity market's susceptibility to geopolitical and operational upheavals.

12.11.2025 - COPPER Commodity was down 2.3%

• Despite hitting multi-month highs recently, Copper faced a bearish movement today as investors weighed demand uncertainties from China, the top consumer of the metal.
• The slip in Copper prices can be attributed to concerns over potential US tariffs on refined copper next year, leading to a cautious approach by investors.
• Supply disruptions in major producing countries like Chile and Peru, coupled with fears of a supply squeeze in the London market, have added volatility to Copper prices.
• The ongoing balancing act between stimulus measures and financial risk management by global economic leaders has also contributed to the fluctuating prices of Copper in the market.