Weekly Special Report: Copper

 

COPPER USE AND MARKET SHARE:

• TOP COPPER PRODUCERS: Chile accounts for 23% of global mine production, followed by 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 dominates global copper consumption, accounting for 58% of the total, followed by the European Union (8%), the United States (7%), and Japan (4%).
• TOP COPPER INDUSTRIES: Copper plays an essential role in electric vehicles (EVs), renewable energy generation (wind and solar farms), electrical infrastructure, telecommunications, and construction. EVs and green energy are among the fastest-growing sources of demand, with estimated growth rates of 10–15% and 5%, respectively.

 

 

EVENTS (U.S.A.):

• MONDAY, NOVEMBER 2 AT 15:00 GMT: U.S. ISM MANUFACTURING PMI (OCTOBER). The data will provide insight into the strength of US manufacturing activity, industrial demand, and overall economic conditions. Stronger-than-expected figures could signal increased production and demand for raw materials, potentially boosting copper prices. Data in September came in at 54.5, missing estimates of 54.8. 
• FRIDAY, NOVEMBER 6 AT 13:30 GMT: U.S. NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (OCTOBER). The data will provide insight into U.S. labor market conditions, employment growth, and overall economic strength. September's NFP figure came in below expectations (29,000 vs. 89,000 expected), while the unemployment rate rose to 4.2%.

 

 

EVENTS (CHINA):

• SATURDAY, OCTOBER 31 AT 01:30 GMT: CHINA MANUFACTURING PMI (OCTOBER). China’s manufacturing PMI will provide insight into industrial activity, business confidence, and demand in the world’s second-largest economy. A stronger-than-expected reading, particularly above the 50-point expansion threshold, could support copper prices. The September reading came in at 50.1, up from 49.8 in August.

 

 

TECHNICAL ANALYSIS:

• UPTREND: Copper prices have risen around 29% over the past year. However, copper prices could decline, too.
• SUPPORT AREA: $6.450 - $6.350: The area between $6.450 and $6.350 has acted as a support region since early July 2026.

GRAPH (Daily): Mach 2026 – October 2026

Please note that past performance does not guarantee future results

 

 

Copper, October 28, 2026
Current Price:  6.640

 

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) 10/28/2026

 

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