Copper Price Rises Towards US$6.5 /Pound (Friday, 23 October 2026)
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Copper price for trading on Friday, 23 October 2026 increased. Today's copper trade was recorded at US$6.5 per pound. This figure is higher than the previous trading day which stood at US$6.4 per pound. Current conditions are similar to copper price movements over the last one day which are on a downward trend.
Over the past week, copper price movement grew by -0.9% with an average daily transaction price of US$6.54 per pound. As a result throughout 2026, copper prices have risen 12.88% from the start of the year position at US$5.76 per pound. Meanwhile this year, the highest trading value for copper commodity was ever transacted at US$6.89 per pound which occurred on Wednesday, 09 September 2026.
On an annual basis, the average copper trade price over the last five years is on an upward trend. Meanwhile, for monthly price monitoring, transactions over the last 12 months tend to rise. The highest monthly average price for copper commodity was recorded in September 2026 at US$6.66 per pound.
Factors Affecting Copper Price
Global market copper prices move following the balance between mine supply and industrial demand. On the demand side, copper is the backbone of energy transition as it is used massively in electric vehicles (EV), power transmission grids, renewable energy, right up to data centres and artificial intelligence (AI) infrastructure. On the supply side, production disruptions at major mines such as in Chile and Peru, export policies, as well as limited smelter capacity often cause tight supply. US dollar exchange rates and economic data from China, the world's largest copper consumer, also drive daily price movements.
What is Copper and Why is its Price Monitored?
Copper is an industrial metal traded globally with the main benchmark at the London Metal Exchange (LME). As an excellent electrical conductor, copper demand is often used as an indicator of global economic health, earning it the nickname Dr. Copper. In Indonesia, copper is mined among other locations in Papua, and the government is encouraging downstream industrialisation through smelter development to increase domestic added value.
Why Can Copper Prices Rise or Fall Today?
(Read: Palladium Price - Palladium Declined Over The Last Three Days)
Daily copper price movements are generally triggered by supply-demand sentiment, China manufacturing data releases, US Federal Reserve (The Fed) interest rate policy direction, as well as US dollar strengthening or weakening. Over the last 30 days, copper price trend has tended to decline (weakening).
Two Freeport copper smelters in Gresik have resumed operations after a shutdown period. as reported by Katadata "Freeport's large smelter capacity will help optimise domestic copper concentrate processing". This is a momentum to boost national copper downstream industrialisation.
Interest from large corporations entering the copper mining sector has re-emerged. as reported by Katadata "There are plans, copper remains one of the commodities we are considering," stated UNTR board of directors. This development is a new signal for copper price market dynamics.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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