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

• U.S. COPPER TARIFF DECISION DELAYED, BUT TARIFF THREAT REMAINS: The White House has delayed a decision on tariffs on refined copper. However, the tariff threat remains unresolved, with a potential 15% tariff from January 2027 rising to 30% in 2028 still under consideration. If the issue returns and tariffs are ultimately introduced, renewed stockpiling and tighter global availability could push copper prices potentially higher.

Source: Reuters

EVENTS (CHINA):

• LATE-SEPTEMBER 2026: CHINA POLITBURO MEETING. Investors will closely watch the upcoming Politburo meeting in China, as Chinese authorities are expected to release fresh economic growth expectations. China is the largest copper consumer in the world. Stronger policy support could further boost expectations of infrastructure investment, supporting China’s economic growth and copper prices.

EVENTS (UNITED STATES):

• WEDNESDAY, SEPTEMBER 16 AT 13:30 GMT+1: U.S. RETAIL SALES (AUGUST). Investors will closely watch Retail Sales after July's reading unexpectedly declined, raising concerns about slowing consumer spending. Another weak report could reduce expectations of a Federal Reserve interest rate hike, weighing on the U.S. dollar and supporting copper prices.
• WEDNESDAY, SEPTEMBER 16 AT 19:00 GMT+1: U.S. FEDERAL RESERVE (FED) INTEREST RATE DECISION. The Fed interest rate currently stands at 3.75%, and many market participants expect an increase to 4%. However, if the Fed decides to keep rates unchanged at 3.75%, this could put negative pressure on the US dollar, supporting copper prices.
• THURSDAY, SEPTEMBER 17 AT 13:30 GMT+1: U.S. PHILADELPHIA FED MANUFACTURING INDEX (SEPTEMBER).  A stronger-than-expected reading could signal stronger manufacturing activity and increased industrial demand for copper, potentially supporting copper prices.

TECHNICAL ANALYSIS:

• BREAKING (SEPTEMBER 9, 2026): COPPER PRICE HIT A FRESH ALL-TIME HIGH ($6.8857). Copper prices traded at $6.473, and if a full recovery to previous all-time highs takes place, copper prices could see upside potential of around 6.4%.
• UPTREND: Copper prices have risen around 50% over the past year. However, copper prices could decline, too.
• SUPPORT AREA: $6.200 - $6.100: The area between $6.200 and $6.100 has acted as a support region since early May 2026.

GRAPH (Daily): February 2026 – September 2026

Please note that past performance does not guarantee future results

Copper, September 16, 2026
Current Price:  6.473

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 10:30 (GMT+1) 16/09/2026

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