Copper Sees Support from Dip Buying

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• LME Aluminum 3M Select trades $-40.75 lower to $3253 at 11:29:23 AM

• LME Copper 3M Select trades $8 higher to $14241.5 at 11:29:25 AM

  • (Bloomberg) – Copper prices found some support from dip-buying on Friday, following a sell-off triggered by speculation the US is pushing back a decision on import tariffs.  Fresh buying by funds and Chinese manufacturers, the biggest copper users, helped stabilize prices, according to brokerages and banks closely monitoring trade flows. Futures on the London Metal Exchange traded near $14,200 a ton, following a 3.6% slump on Thursday triggered by a Reuters report saying inflation concerns were leading the White House to hesitate on its tariff plans. “After the initial sharp sell-off yesterday, we had both fresh commodity speculative fund buying, as well as other specs buying copper on the LME,” said Michael Cuoco, head of metals and bulk fund sales at StoneX Financial Inc. “We’ve seen Chinese flows, too.”

    Copper traders have diverted massive amounts of metal into American shores in a bid to profit from a spike in US prices as the market awaits duties on refined-metal imports to be introduced by the Trump administration. Optimism over demand for the wiring metal for data centers and renewable energy, as well as supply setbacks at key mines, have also bolstered investor buying.  The price retreat snapped a ten-week rally that saw prices breaking fresh records above $14,800 a ton earlier this week.  “The recent rally appears to have extended beyond fundamentally justifiable levels,” analysts at BMI, a Fitch Solutions company, said in a note. “The tariff uncertainty continues to run high.”Metal markets are also monitoring any inflation signal that could lift expectations that the Federal Reserve will raise interest rates — typically a headwind for non-yielding assets such as copper.

• CME HRC Steel last traded at $1233 and $-1 lower at 9/10/2026

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