Weekly Special Report: Copper

COPPER USE AND MARKET SHARE:

• TOP COPPER CONSUMERS: China (52% of the world’s total), the United States (7%), the European Union (8%), and Japan (4%).
• TOP COPPER PRODUCERS: Chile (27% of the world total), China (8%), Peru (8%), the Democratic Republic of Congo (6%), Australia (5%), Mexico (5%), Indonesia (4%), Russia (3%), and Canada (2%).
• TOP COPPER INDUSTRIES: Copper is heavily demanded in the EV industry, renewable energy industry (wind & solar farms), electrical infrastructure, telecommunications, and construction. The EV and green industries show the biggest growth rates (10-15% and 5%, respectively).

U.S. – CHINA SUMMIT: AGENDA

• EVENT (MAY 14 - MAY 15): U.S. PRESIDENT TRUMP WILL VISIT CHINA AND MEET PRESIDENT XI.
• EVENT (THURSDAY, MAY 14 AT 03:00 - 03:15 A.M. GMT+1): U.S. PRESIDENT TRUMP - PRESIDENT XI GREETING AND BILATERAL MEETING. The rare in-person meeting, already once delayed due to the US-Israeli war with Iran, is now scheduled for May 14 at 03:15 A.M. GMT+1.
• EVENT (FRIDAY, MAY 15 AT 04:00 – 05:00 A.M. GMT+1): TRUMP – XI FRIENDSHIP PHOTO, BILATERAL TEA AND LUNCH. The presidents of the two largest economies in the world will meet again on Friday to conclude Trump’s visit to China.

U.S.–CHINA SUMMIT: IMPORTANCE FOR THE COPPER MARKET

• CHINA IS THE LARGEST COPPER CONSUMER IN THE WORLD: ROUGHLY 50% OF TOTAL GLOBAL DEMAND. China is the world’s largest consumer of copper, accounting for roughly half of global demand. The metal is widely used across key sectors such as construction, power infrastructure, and manufacturing, making China’s economic activity a major driver of global copper prices and demand trends.
• CHINA COPPER DEMAND COULD RISE FURTHER IF TRADE DE-ESCALATION FOLLOWS A POSITIVE U.S.–CHINA SUMMIT. China’s copper demand could see further upside if improved trade relations strengthen global manufacturing activity. Better cooperation and reduced uncertainty may support industrial production, infrastructure investment, and technology supply chains, all of which are key drivers of copper consumption.

COPPER MARKET: TIGHT SUPPLY AND RISING A.I. DEMAND SUPPORT 2026 OUTLOOK

• COPPER MARKET EXPECTED TO BE IN DEFICIT IN 2026. Ongoing mine disruptions around the world and declining ore grades continue to restrict supply growth, while demand remains supported by electrification and A.I. infrastructure needs.
• INDUSTRIAL DEMAND: ELECTRIFICATION, MILITARY, AND A.I. INFRASTRUCTURE INVESTMENT INCREASES DEMAND. Copper demand remains structurally strong, supported by power grid expansion, renewable energy projects, A.I. Data centers construction, electric vehicles, rising industrial activity, and increased military spending, all reinforcing the demand outlook into 2026.

EVENTS:

• MONDAY, MAY 18 AT 03:00 GMT+1: CHINA INDUSTRIAL PRODUCTION (APRIL): The indicator measures the year-over-year change in output from factories, mines, and utilities, reflecting the strength of China’s industrial sector. China’s industrial production rose by 5.7% in March, exceeding analysts’ forecasts of 5.4% and February’s 5.3%.

TECHNICAL ANALYSIS AND PRICE ACTION:

• COPPER HIT AN ALL-TIME HIGH OF $6.5790 (January 29, 2026). Copper was last trading around $6.48, approximately 2% below its previous all-time high.
• UPTREND: Copper price has risen by more than 13% so far in 2026, after closing up by around 42% in 2025.   
• SUPPORT AREA: $6.300 - $6.150: After rising by around 8% earlier this week toward the $6.50 level, copper could find support in the $6.300–$6.150 area.

Copper, May 12, 2026
Current Price:   6.4800

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 10,000 units
2.  Calculations for exchange rate used as of 13:00 (GMT+1) 12/05/2026

You can use risk management tools such as Stop-Loss and Take-Profit