Copper (CMX) Prices

03-04-2026 - Over the past month, the price of copper has decreased from $5.7735/lb to $5.563/lb, indicating a downward trend in the market. This decline may reflect changes in supply-demand dynamics or broader economic factors impacting raw material prices. However, the forecast for Copper (CMX) suggests a price increase to $5.743/lb from the current $5.563/lb, representing a 3.2% rise. This indicates an anticipated upward trend, although market volatility could pose risks to raw material prices.

The forecast highlights upward price pressure on copper, driven primarily by technical data, with a price impact of $0.089/lb. Key contributors to this pressure include the Futures Curve, contributing $0.047/lb, and Traders' Positions, adding $0.012/lb. All data types align to support this upward trend.

According to the International Copper Association Australia's "Copper Weekly Brief" dated April 2, 2026, US copper futures are trading in the mid-$5s per pound, having rebounded from a late-March low of around $5.34. Despite recent volatility, short-term forecasts maintain a bullish outlook as long as prices remain above the mid-$5.50/lb range. This analysis aligns with the forecasted upward trend in COMEX copper prices over the next month.