During January 2026, 3 month LME copper prices traded within a range of 12,444 - 14,527.5 usd/ ton, exhibiting a strong performance throughout the month. Price movements were primarily driven by supply-side risks, macroeconomic expectations, and investor sentiment. At the beginning of the month, copper prices opened with a premium following the failure of negotiations between the main labor union and the company over new labor agreements at Capstone Copper’s Mantoverde copper

In December, LME 3M copper prices traded within a range of $11,121–$12,960, ending the month at $12,496.5 and posting a monthly gain of 11.82%. The rally was primarily driven by intensifying supply-side concerns, supported by robust macroeconomic signals from the United States and a persistently weaker U.S. dollar. Prices found early support following the approval of production cut plans for 2026 by major Chinese smelters, the world’s largest copper consumers, alongside Codel

In November, 3M LME copper traded in a range of $10,557.5 to $11,210.5. Prices began the month under pressure as weaker-than-expected factory and trade data from China raised concerns about global growth. Later on, the market found support from several drivers: FOMC minutes and comments from Fed officials revealed differing views within the Committee, while stronger-than-expected U.S. nonfarm payrolls added to policy uncertainty. Additional momentum came from reports that Nvi