NewsSignals AI analysis·Reuters·
Copper hovers near 11-week low as midterm risk-off lingers
Grade Bbearish AI signal$HG
Copper prices slipped nearly 1% as risk-off sentiment tied to U.S. midterm election uncertainty continued, keeping the metal near an 11-week low.
LME copper fell 0.99% to $13,897 per ton after touching $13,883, its lowest level since August 19, while Shanghai copper dropped 0.81%.
Persistent political uncertainty and concerns about slower AI infrastructure spending could maintain pressure on copper, although tight supply and strong Chinese import demand may limit further losses.
Bullish strength: 30/100
- Supply tightness outside the United States is cushioning copper losses.
- China's Yangshan premium remains near its highest level in over a decade.
- Potential U.S. refined copper tariffs have reduced inventories elsewhere by pulling material into U.S. warehouses.
Bearish strength: 70/100
- LME copper fell 0.99%, extending the previous risk-off weakness.
- Copper touched an 11-week low of $13,883 per ton.
- Concerns about slower AI infrastructure spending are weighing on copper sentiment.
- Uncertainty surrounding U.S. midterm election results is contributing to market risk aversion.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.