2026.08.1102:54:08UTC+00Copper Edges Higher on Supply Concerns

Copper futures rose above $6.60 per pound on Tuesday, extending gains into a second consecutive session, underpinned by mounting evidence of tightening global supply and expectations of constrained mine output. Market participants remained wary of potential US import tariffs on copper, which have continued to divert metal away from international markets and into US warehouses.

In addition, the Democratic Republic of Congo recently introduced an export ban on copper concentrate. While the measure is not expected to significantly disrupt global supply, it has added to concerns about future availability. More broadly, the long-term outlook for copper extraction and production is increasingly challenged by declining ore grades, stricter environmental regulations, and heightened geopolitical risks.

On the demand side, copper continues to benefit from resilient consumption, supported by the global drive toward electrification as well as the rapid expansion of artificial intelligence data centers, both of which are highly copper-intensive.