2026.04.2904:25:07UTC+00Copper Stabilizes After Four-Day Decline

Copper futures stabilized around $5.95 per pound on Wednesday after four consecutive sessions of declines, as solid long-term fundamentals helped counterbalance short-term pressure linked to the Iran conflict. Persistent demand from major technology companies, which are rapidly expanding datacenter capacity across key manufacturing hubs, continues to support copper consumption, given the metal’s essential role in electrification and power grid infrastructure.

On the supply side, output from top producer Chile is increasingly uncertain after the Middle East conflict disrupted sulphur shipments to China, prompting Beijing to curb exports of sulphuric acid—a critical input for roughly half of Chile’s copper refining capacity. In Indonesia, production at the Grasberg mine remains below potential following a fatal mudslide that led to a force majeure declaration.

At the same time, worries that the Iran war could undermine global economic growth are weighing on the outlook for industrial metals demand.