Weekly Special Report: Copper

COPPER USE AND MARKET SHARE:

• TOP COPPER PRODUCERS: Chile (23% of global mine production), the Democratic Republic of the Congo (14%), Peru (11%), China (8%), the United States (5%), Indonesia (4%), Russia (4%), Zambia (4%), Australia (3%), Mexico (3%), Kazakhstan (3%), and Canada (2%).
• TOP COPPER CONSUMERS: China (58% of the world’s total), the European Union (8%), the United States (7%), and Japan (4%).
• TOP COPPER INDUSTRIES: Copper is heavily demanded in the EV (Electric Vehicles) industry, renewable energy industry (wind & solar farms), electrical infrastructure, telecommunications, and construction. The EV and green industries show the biggest growth rates (10-15% and 5%, respectively).

U.S. TARIFFS

• POTENTIAL FUTURE U.S. TARIFFS INCREASED CURRENT DEMAND, SENDING COPPER PRICES TO FRESH ALL-TIME HIGHS: Copper prices rose earlier this week to their highest levels ever ($6.8717), as proposed tariffs of 15% in January 2027, potentially rising to 30% in 2028, have increased current demand for copper. Traders have been bringing copper into the United States ahead of potential future tariffs, increasing U.S. inventories and tightening availability elsewhere.

Source: Reuters

EVENTS (CHINA):

• MONDAY, AUGUST 31 AT 2:30 AM GMT+1: CHINA MANUFACTURING PMI (AUGUST). China’s Manufacturing PMI is a key indicator of manufacturing activity and economic health. A stronger-than-expected PMI reading is typically positive for copper, as it suggests stronger industrial activity and demand from China, the world’s largest copper consumer.

EVENTS (UNITED STATES):

• TUESDAY, SEPTEMBER 1 AT 15:00 GMT+1: U.S. ISM MANUFACTURING PMI (AUGUST). The ISM Manufacturing PMI is a key indicator of U.S. manufacturing activity. The previous reading came in at 55.6, higher than the expected 54.0 and the previous reading of 53.3.
• TUESDAY, SEPTEMBER 3 AT 15:00 GMT+1: U.S. ISM NON - MANUFACTURING (SERVICES) PMI (AUGUST). The ISM Manufacturing PMI is a key indicator of U.S. non-manufacturing (services) activity. The previous reading came in at 54.1, lower than the expected 54.5, but higher than the previous reading of 54.
• FRIDAY, SEPTEMBER 4 AT 13:30 GMT+1: U.S. NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (AUGUST). U.S. Nonfarm Payrolls (NFP) fell by 23,000 in July, significantly below the forecast of +85,000. The previous month (July) saw unemployment decline to 4.1%.

TECHNICAL ANALYSIS:

• BREAKING (AUGUST 26, 2026): COPPER PRICE HIT A FRESH ALL-TIME HIGH ($6.8717).
• UPTREND: Copper prices have risen around 52% over the past one year. However, copper prices could decline, too.
• SUPPORT AREA: $6.500 - $6.200: The area between $6.500 and $6.200 has acted as a support region since early May 2026.

GRAPH (Daily): August 2026 – August 2026

Please note that past performance does not guarantee future results

Copper, August 28, 2026
Current Price:   6.710

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 10,000 units
2.  Calculations for exchange rate used as of 13:30 (GMT+1) 28/08/2026

You can use risk management tools such as Stop-Loss and Take-Profit