Despite strong US import demand, copper prices have dipped below USD 14,000 per ton as investors weigh significant supply constraints in Chile against broader market risk aversion.
Chilean copper output hit a two-decade low in Q3, and Cochilco forecasts an 8.4% slump in 2026 output, only recovering 3% in 2027. Strong US import demand supports prices, but copper has fallen below USD 14,000 per ton due to risk aversion and tech-stock selling. The supply risks are likely to underpin prices in the coming weeks.
The article notes broader risk aversion and tech-stock selling pushed copper below USD 14,000 per ton.
Cochilco forecasts an 8.4% slump in 2026 output and only a modest 3% recovery in 2027.
Copper prices have retreated below the USD 14,000 per ton threshold as broader market risk aversion and tech-sector volatility offset strong US import demand. Commerzbank analysts point to a two-decade low in Chilean production, with state agency Cochilco forecasting an 8.4% output slump by 2026.
The article notes broader risk aversion and tech-stock selling pushed copper below USD 14,000 per ton.
Cochilco forecasts an 8.4% slump in 2026 output and only a modest 3% recovery in 2027.