Copper Prices Rebound Approximately 2% Following Significant Decline on Friday
Copper Price Fluctuations: Copper prices surged by about 2% to $11,656.50 per ton after a previous drop, driven by market speculation of tightening supply in 2026 and significant U.S. stockpiling ahead of potential tariffs.
Supply and Demand Dynamics: Analysts predict major shortages due to tight mine supply and increased demand from green energy investments, with prices potentially reaching $13,000 per ton in early 2026 and $15,000 by mid-2024.
Impact of Tariffs on U.S. Inflows: The anticipated tariffs on refined copper imports have led to a significant increase in U.S. inflows, with inventories rising to about 750,000 tons, while LME stocks have decreased nearly 40% this year.
Production Outlook Concerns: Major mining companies have reduced their production targets for 2026, leading to expectations of a market deficit, particularly in late 2025 and early 2026, as output from key mines is expected to decline.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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