Morning Copper Price Traded at US$6.55 /Pound (Friday, 02 October 2026)
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Copper price for transactions on Friday, 02 October 2026 increased. Today's copper trading price is recorded at US$6.55 per pound. This figure is higher than the previous trading day which stood at US$6.54 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 -3.03% with an average daily transaction price of US$6.64 per pound. As a result throughout 2026, copper prices have risen 13.78% from the start of year position at US$5.76 per pound. Even from this year's highest price at US$6.89 per pound, copper prices have fallen by 4.93%.
(Read: Nickel Commodity Price for 3-Month Forward Contracts Fell Over the Last Seven Days)
On an annual basis, the average copper trading 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 recorded monthly average copper commodity price was in September 2026 at US$6.66 per pound.
Factors Affecting Copper Prices
Copper prices in the global market move according to the balance between mine supply and industrial demand. On the demand side, copper is the backbone of the energy transition as it is used massively in electric vehicles (EV), power transmission networks, renewable energy, right through 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, and 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 promoting downstream industrialisation through smelter development to increase domestic added value.
Why Can Copper Prices Rise or Fall Today?
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 trends have tended to decline (weakening).
Interest from large corporations entering the copper business is increasingly visible. as reported by Katadata "There are plans, copper remains one of the commodities we are considering," stated United Tractors' board of directors in the latest public presentation.
The government's maintained raw copper export ban policy is a crucial factor for this commodity's price movements. as reported by Katadata "In order to carry out economic transformation, there is no other way, domestic industry must exist," stated Minister of Energy and Mineral Resources Bahlil.
"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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