Copper Trends

Copper Price Today: Live COMEX and LME Prices, Charts and Forecast

Copper is trading at $6.60 per pound on COMEX and $14,422.00 per tonne on the LME three-month contract as at 7 October 2026. COMEX is up 0.03% on the day; the LME three-month contract is down 0.08%.

The metal set a fresh all-time high on August 26 2026, when the COMEX September contract touched $6.7775 a pound in early New York trading, roughly $14,940 a tonne, before retreating. As at the August 26 close, COMEX was up about 17 per cent in 2026 and roughly 50 per cent over twelve months, while the LME three-month contract was up about 15 per cent year-to-date.

Some analysts had expected the copper market to enjoy a surplus this year, but fresh tariff fears may now vindicate forecasters who called for the market to return to balance. Right now, heavy US import front-loading is helping to turbocharge demand, and may push the market into deficit.

The Commerce Secretary was directed to provide the President with an update on US copper markets by June 30, 2026, a date which has come and gone without any official announcement. Copper is at a record anyway, because a large share of the world’s available metal has been shipped into United States warehouses ahead of a tariff decision that still has not been made, leaving everyone else bidding up remaining supply.

Key facts:

• All-time high (COMEX): $6.7775 a pound, September contract, intraday, 26 August 2026

• All-time high (LME): $14,527.50 a tonne, three-month contract, intraday, 29 January 2026

• Record close (LME): $14,298 a tonne, three-month contract, 25 August 2026

2025 annual average: $9,946.88 a tonne, or $4.51 a pound (IMF benchmark series)

Global balance 2026: forecasters split over surplus/deficit; ICSG recorded +221,000 t over January–May

• Why the record: COMEX copper inventories reached a record 612,500 metric tonnes while LME and SHFE stocks drain, ahead of White House tariff ruling

• Consensus forecast: $13,169 a tonne for 2026 (Reuters poll of 27 analysts, 23 July 2026) below where copper trades today.

The price of copper has experienced major structural shifts over the past few decades, driven by globalisation, infrastructure booms, and the transition toward green energy. As of October 8, 2026, benchmark copper trades at approximately $6,62 per pound ($14 508 per metric ton)

Key Historical Milestones

• 1990s Foundations: Copper prices traded at cyclical lows, hovering between $1 377 and $3 000 per metric ton.

• The China Supercycle (2000s–2011): Industrialization and urban expansion in China drove an unprecedented commodities boom, lifting copper prices toward historical highs near $10 000 per ton.

• The Green Energy Revolution (2020–2025): Growing reliance on Electric Vehicles (EVs), AI data centres, and electrical grid upgrades created systemic supply deficits.

• 2026 Record Peaks: In 2026, severe mine bottlenecks, a widening deficit outside the US, and anticipated tariffs caused copper to touch an all-time high.

Current Market Breakdown (October 2026)

Metric COMEX (Per Pound) LME (Per Metric Ton)

Current Price $6,62 USD $14 508,85 USD

52-Week Range $4,82 – $6,93 USD $10 494 – $14 851 USD

1-Year Trend Up ~29,45% Strongly Bullish

Sources: (DeVere Group, Trading Economics)