Copper ($COPPER) Commodity Forecast: Down 5.9% Today

What is Copper?

Copper, a widely utilized industrial metal celebrated for its conductivity and versatility, plays a crucial role in various sectors like construction, electronics, and transportation. The global copper market's dynamics are shaped by an array of influencing factors, including supply challenges, rising demand from emerging markets, and trade disputes between key economies.

Why is Copper going down?

COPPER commodity is down 5.9% on Oct 10, 2025 20:56

• 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.

COPPER Price Chart

COPPER Technical Analysis

COPPER News

Copper Plunges More Than 4%

Copper futures plunged more than 4% to below $4.9 per pound on Friday after President Trump warned of a “massive increase” in tariffs on Chinese goods. Trump stated on social media that the possible measures were being considered in response to China’s recent “hostile” export restrictions on rare-earth elements and related technologies. Meanwhile, disruptions in Chile and Indonesia continued to tighten global supply. Chilean state miner Codelco produced 93,400 metric tons in August, its lowest monthly output in over two decades and down 25% from a year earlier. A deadly July 31 accident at the El Teniente mine killed six workers, injured nine, and halted operations for more than a week, forcing the company to cut its annual production forecast. Output at Indonesia’s Grasberg mine also remains limited after last month’s fatal accident. Meanwhile, Canada’s Teck Resources lowered its annual production outlook to 170,000–190,000 metric tons from 210,000–230,000.

Copper is down by 2.07%

Copper decreased 2.07% to 5.007 USD/Lbs

Copper Near 10-Week High on Supply Concerns

Copper futures slipped below $5.1 per pound on Friday amid profit-taking but remained near ten-week highs as mine disruptions in Chile and Indonesia continued to tighten global supply. Industry data showed Chilean state miner Codelco produced 93,400 metric tons in August, its lowest monthly output in over two decades and down 25% from a year earlier. A deadly July 31 accident at the El Teniente mine killed six workers, injured nine, and halted operations for more than a week, forcing the company to cut its annual production forecast. Output at Indonesia’s Grasberg mine also remains limited after last month’s fatal accident, with operator Freeport-McMoRan saying full capacity may not return until early 2027. Meanwhile, Canada’s Teck Resources lowered its annual production outlook to 170,000–190,000 metric tons from 210,000–230,000.

Copper Climbs on Global Mine Disruptions

Copper futures strengthened above $5 per pound on Thursday, hitting over two-month highs as a series of mine disruptions in Chile and Indonesia stoked supply concerns. Production at Indonesia’s Grasberg mine remains constrained after last month’s fatal accident, with operator Freeport-McMoRan signaling that full output may not resume until early 2027. In Chile, state-owned Codelco suspended mining and smelting operations at its El Teniente site following an earthquake in late July. Meanwhile, Canada’s Teck Resources cut its annual production forecast to 170,000–190,000 metric tons from an earlier 210,000–230,000. Adding to the bullish sentiment, expectations for another Federal Reserve rate cut this month and a further reduction in December lifted the broader demand outlook for industrial metals.

Copper Firms Up as Supply Disruptions Persist

Copper futures held above $5 per pound on Tuesday, hovering near their highest levels in over two months as prolonged supply disruptions in Indonesia and Chile fueled persistent shortage concerns. All workers missing after last month’s accident at Indonesia’s Grasberg mine were confirmed dead, and operator Freeport-McMoRan has indicated that full production is unlikely to resume until early 2027, cutting its 2026 sales guidance by 35%. In Chile, copper output fell nearly 10% year-on-year in August, the steepest drop since 2023, after a late-July earthquake forced Codelco to halt mining and smelting at its El Teniente site. Supporting prices further, expectations grew for another US Federal Reserve rate cut this month, with an additional reduction anticipated in December, boosting the broader demand outlook.

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Copper Price History

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.

24.08.2025 - COPPER Commodity was up 1.4%

• Copper prices surged today as supply concerns loomed over the market, with challenges faced by a major copper mining company in Chile following a tunnel collapse.
• Despite setbacks at the Chilean company and disruptions at another mining company, recent production data indicated resilience in the industry, with increased output reported by the companies.
• Expectations of tighter supply in the near future supported copper futures, demonstrating the market's sensitivity to supply disruptions and production challenges.
• The uptrend in copper prices today reflects investors' attention to supply dynamics and their potential impact on future prices, emphasizing the need to monitor production updates and supply chain risks in the copper market.

31.06.2025 - COPPER Commodity was down 21.9%

• Copper futures plunged due to a recent decision to exclude refined copper from new tariffs applied by a prominent figure, leading to a significant decline in prices.
• Traders reacted by accelerating shipments to the US in anticipation of broader tariffs, resulting in a shift in copper flows and reduced demand.
• The exclusion of raw forms of copper like ore and concentrates from tariffs also influenced the market reaction, impacting sentiment adversely.
• Following this development, Copper hit an 8-week low, with prices dropping substantially by 20%, underlining the notable effect of the tariff exemption on the commodity's value.

30.06.2025 - COPPER Commodity was down 11.5%

• Copper prices experienced a bearish movement as concerns grew over the impending 50% US tariff on copper imports, set to begin on August 1.
• The uncertainty surrounding which copper products will be affected and the rush of vessels to reach US ports before the tariff deadline contributed to the downward pressure on copper prices.
• Despite the temporary gains driven by risk appetite and progress in US trade negotiations with major partners, the looming tariff threat overshadowed the market sentiment, leading to the bearish movement in copper prices.
• The market will likely continue to closely monitor developments in US trade policies and global trade flows to gauge the future direction of copper prices.

30.06.2025 - COPPER Commodity was down 18.5%

• The bearish movement in Copper prices can be attributed to a decision to exclude refined copper from an upcoming tariff package, causing a significant drop in futures prices.
• The uncertainty surrounding the specific copper products to be affected by the tariffs has led to market volatility and a rush to ship copper to the US before the deadline.
• An announcement about seeking a tariff exemption for copper imports provided some relief to the market, leading to a temporary rebound in prices, but concerns over a potential decline in US demand post-tariffs remain.
• The ongoing US-China trade tensions and the lack of clarity on trade agreements have added to market caution and contributed to the bearish sentiment in Copper prices.

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.

25.08.2025 - COPPER Commodity was up 5.0%

• Today's rise in copper prices is mainly driven by concerns over supply disruptions at notable mines like Freeport-McMoRan's Grasberg mine in Indonesia and Hudbay Minerals' Constancia mine in Peru.
• Freeport-McMoRan's enforcement of force majeure due to a tragic incident and subsequent production reduction has amplified the market's alertness to possible supply interruptions, pushing prices upwards.
• Challenges persist at Codelco's El Teniente operation in Chile and disruptions at Teck Resources, which have added pressure to the supply situation, sustaining copper prices at levels seen over the last two months.
• Despite obstacles faced, recent production statistics from key industry players like Codelco and BHP's Escondida mine suggest a level of resilience in dealing with operational issues, indicating a delicate equilibrium between supply constraints and demand dynamics in the copper market.

25.08.2025 - COPPER Commodity was up 5.2%

• Today's positive trend in copper prices originated from supply worries within the market, notably stemming from disruptions at major mines:
• Freeport-McMoRan's imposition of force majeure on production at its Grasberg mine in Indonesia due to an unfortunate incident highlighted the market's susceptibility to supply disruptions.
• Operations suspension at Hudbay Minerals' Constancia mine in Peru amid protests further exacerbated the supply limitations.
• These disruptions, particularly at Grasberg, a significant source of global copper supply, sparked concerns of a potential shortage, leading to price escalations.
• The market's response emphasizes the critical significance of monitoring geopolitical events and operational risks in key mining areas to assess potential implications on commodity prices.

31.06.2025 - COPPER Commodity was down 21.8%

• The bearish movement in Copper today can be attributed to a decision that excluded refined copper from an upcoming tariff package, leading to a significant drop in futures prices.
• Traders rushing to allocate metal into a specific country before the tariff deadline resulted in a surge in copper prices earlier in the week, followed by a sharp decline as concerns over reduced demand post-tariffs intensified.
• An announcement made by a country seeking a tariff exemption for copper imports provided a temporary boost to prices, but uncertainty surrounding the impending tariffs and the lack of clarity on affected products continue to weigh on the market.
• The overall market sentiment remains cautious as traders navigate through trade negotiations, tariff deadlines, and global trade tensions, contributing to the heightened volatility in copper prices.

28.06.2025 - COPPER Commodity was down 6.0%

• Uncertainty and instability in the copper market have arisen due to the potential implementation of a 50% tariff on copper imports into the US, causing a bearish trend.
• Demand for copper has experienced a temporary surge as ships rush to meet the tariff deadline, yet experts caution that there may be a sharp decline once this rush subsides, particularly impacting copper demand in the US.
• Ongoing US trade discussions with key partners such as the EU and China are being closely watched by the market, as any progress in these negotiations could result in significant changes in copper prices and global trade patterns.
• The tariff's objective to boost the domestic copper industry and lessen dependence on imports may strain the smelting and refining capabilities within the US, potentially posing challenges to the domestic supply chain and leading to further market instabilities.

10.09.2025 - COPPER Commodity was down 2.3%

• Despite recent supply disruptions in major copper-producing countries like Chile and Indonesia, copper prices experienced a bearish movement today, possibly due to profit-taking by investors.
• The ongoing supply concerns, including mine disruptions and reduced production forecasts by key players, have been supporting copper prices in recent days.
• The uncertainty surrounding the timeline for full production recovery at the Grasberg mine in Indonesia and the El Teniente site in Chile may have contributed to the market's bearish sentiment today.
• Broader market factors, such as expectations for Federal Reserve rate cuts and their impact on industrial metal demand, could also be influencing the fluctuation in copper prices despite the supply-side disruptions.