NewsSignals AI analysis·Reuters·Nov 3, 2026

Copper falls to 7-week low ahead of US midterm election

Grade Abearish AI signal$XAU

Copper fell to a seven-week low as risk-off sentiment ahead of the US midterm elections and uncertainty surrounding the US-Iran conflict pressured industrial metals. LME copper dropped 2.46% to $13,992 per ton, while a 0.38% rise in the dollar against the yuan increased purchasing costs for Chinese buyers. Election-related tariff uncertainty and geopolitical risks could keep copper and broader industrial metals under pressure, although tight physical supply in China may limit further losses.

Bullish strength: 20/100

Chinese physical copper supply remains tight.
Yangshan copper premium stayed near a more than decade-high of $200 per ton.

Bearish strength: 80/100

LME copper fell 2.46% to a seven-week low of $13,992 per ton.
Risk-off sentiment ahead of US midterm elections pressured industrial metals.
US-Iran conflict uncertainty clouded the global growth outlook.
A stronger dollar against the yuan increased costs for Chinese copper buyers.
Other industrial metals, including aluminium, zinc, lead and tin, also recorded losses on the LME.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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