Copper Price Forecast: Market Digests Gains After Record Rally
Copper prices are consolidating NEAR $6.01–$6.05 per pound following a sharp rally that peaked at $6.31 on January 29, 2026. The surge, driven by structural demand from AI data centers, electric vehicles, and renewable energy projects, fell just short of inflation-adjusted 2008 highs.
Supply disruptions in key producing regions exacerbated the upward momentum, with London Metal Exchange prices briefly exceeding $14,500 per metric ton. The rapid ascent introduced volatility, prompting analysts to reassess the trend as prices stabilize near psychological support at $6.00.
Technical indicators suggest the market may be nearing a cycle reversal. The "Copper Cycles" chart points to a potential trend change pending confirmation of retracement patterns and moving average support levels.
