Copper ($COPPER) Commodity Forecast: Up 1.3% Today

What is Copper?

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

Why is Copper going up?

COPPER commodity is up 1.3% on May 9, 2025 7:37

• 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.

COPPER Price Chart

COPPER Technical Analysis

COPPER News

Copper Hits 4-week Low

Copper decreased to a 4-week low of 4.46 USD/Lbs. Over the past 4 weeks, Copper gained 2.35%, and in the last 12 months, it decreased 4.29%.

Copper is down by 2%

Copper decreased 2% to 4.499 USD/Lbs

Copper Rises on Signs of Robust Demand

Copper futures rose above $4.60 per pound on Thursday, recouping some losses from the previous session as signs of robust demand in China, the world’s largest consumer of the metal, boosted market sentiment. Analysts pointed to strong procurement activity from State Grid Corp of China, which has driven increased orders among wire and cable manufacturers. Additional support came from data showing that home appliance sales in China surged nearly 16% during the five-day holiday at the start of May, signaling healthy consumer demand. Meanwhile, representatives from the US and China are set to meet in Switzerland this weekend to discuss trade issues, raising optimism around a potential deal. Elsewhere, China's central bank reinforced stimulus momentum earlier this week by announcing a 10 basis point cut to key lending rates and a 50 basis point reduction in banks’ reserve requirement ratio, further supporting the demand outlook.

Copper Falls as Markets Weigh Trade Developments

Copper futures fell over 1% to below $4.70 per pound on Wednesday, reversing the prior session’s gains as investors assessed evolving global trade dynamics. In the latest developments, reports emerged that Chinese Vice Premier He Lifeng will hold talks with US Treasury Secretary Scott Bessent in Switzerland later this week to discuss trade matters, boosting hopes for a potential start to tariff negotiations. Copper prices also declined even after China’s central bank announced plans to lower key policy rates amid efforts to support growth in the face of US tariffs. Moreover, the metal came under pressure from disappointing manufacturing PMI reports in major economies, signaling weaker demand. Adding to the downside, copper inventories surged in North American warehouses as US manufacturers ramped up stockpiling in anticipation of possible new tariffs, further weighing on prices.

Copper Holds Recent Losses

Copper futures in the United States were below $4.65 per pound on Wednesday, holding most of the losses from the prior week amid evidence of weaker global demand and the large flow of copper into North American warehouses. Manufacturing PMIs in China, the US, and Europe all reflected contracting factory activity in manufacturing hubs, limiting the outlook on demand for base metals. In the meantime, ample ore output from South America amplified the backdrop of oversupply, with the International Copper Study Group doubling its forecast on this year's surplus to nearly 300,000 tonnes. Consequently, increasing risks of a glut drove Chinese traders to close long positions on US copper futures, which were mostly open after Trump announced a probe to tariff copper imports. This coincided with the sharp increase in US copper inventories as metal flowed back into the United States for factories to avoid shield themselves from levy risks.

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Copper ($COPPER) Commodity Forecast: Up 1.3% Today

Copper Price History

08.03.2025 - COPPER Commodity was down 5.2%

• Copper prices experienced a bearish movement, hitting a four-month low, amidst concerns over the escalating trade war between the US and China.
• The market sentiment fluctuated as President Trump's trade policies created uncertainty, with fears of a global recession impacting copper prices.
• Trump's threats of additional tariffs on Chinese imports and China's retaliatory measures contributed to the downward pressure on copper futures.
• Despite hopes of easing tensions and potential trade talks, the volatility in the market is expected to persist, reflecting the sensitivity of copper prices to geopolitical developments.

09.03.2025 - COPPER Commodity was up 5.1%

• Copper prices bounced back above $4.20 per pound, signaling a technical rebound after recent losses, driven by fears of a tariff-induced global recession.
• Investor sentiment improved as US President Trump hinted at engaging in trade talks with key partners, raising hopes for a de-escalation in global trade tensions.
• The market movement was influenced by ongoing concerns about an escalating trade war, with copper prices being particularly sensitive to developments in US-China trade relations.
• Despite the volatility, copper prices were supported by the exclusion of the metal from new US tariffs, providing some relief to market participants and contributing to the bullish movement.

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.

04.03.2025 - COPPER Commodity was down 6.8%

• Amid escalating trade tensions between the US and its major trading partners, particularly China, copper futures experienced a significant bearish movement.
• The market reacted negatively to fears of a global recession triggered by the imposition of tariffs by US President Donald Trump and subsequent retaliatory actions from key economies.
• Despite initial speculations of copper-specific tariffs, the metal faced pressure as Trump's new tariffs excluded copper, resulting in price declines.
• The uncertainty surrounding potential US tariffs on copper imports and broader risk-off sentiment in the markets contributed to a sharp decline in copper prices, erasing earlier gains.

04.03.2025 - COPPER Commodity was down 5.1%

• Copper prices plummeted to a three-week low of around $4.75 per pound due to escalating global recession fears fueled by trade policies.
• The clarification that certain minerals, including copper and gold, were exempt from new tariffs initially boosted copper futures, but trade tensions continued to impact the metal.
• Investors are closely watching the potential effects of upcoming U.S. tariffs on copper imports, with suggestions of a quicker implementation timeline adding to market uncertainty.
• The bearish trend in copper prices reflects the market's response to trade and geopolitical factors, underscoring the importance of monitoring policy announcements for industrial commodities.

07.03.2025 - COPPER Commodity was up 5.5%

• Copper prices experienced a strong bullish movement today despite recent bearish trends.
• The market movement can be attributed to the confirmation that Trump's new tariffs do not apply to copper, gold, energy, and certain minerals unavailable in the U.S., easing concerns about potential tariffs on copper.
• The ongoing trade tensions between the U.S. and its major trading partners, particularly China, have created volatility in copper prices, with fears of a global recession impacting market sentiment.
• Investors are closely monitoring developments in the trade war and potential tariffs on copper, which could continue to influence the future direction of copper prices.

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.

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.

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.