Copper futures set for ~3% weekly drop on soft China demand outlook; Panama mine restart proposed
Trading Economics (Oct 2, 2026) reports copper futures steadied around $6.52/lb on Friday but remained on track for a nearly 3% weekly decline, weighed down by signs of weakening industrial activity in top consumer China, a stronger dollar, elevated bond yields and rising oil prices amid US-Iran escalation risk. Supply-side items: potential strike at an Antofagasta site in Chile, Panama's government proposing to resume operations at a major mine, and the Trump administration postponing its decision on refined copper tariffs.
Trading Economics (Oct 2, 2026) reports copper futures steadied around $6.52/lb on Friday but remained on track for a nearly 3% weekly decline, weighed down by signs of weakening industrial activity in top consumer China, a stronger dollar, elevated bond yields and rising oil prices amid US-Iran escalation risk. Supply-side items: potential strike at an Antofagasta site in Chile, Panama's government proposing to resume operations at a major mine, and the Trump administration postponing its decision on refined copper tariffs.
Research completed: 2026-10-03T11:57:01.000Z.
Received by Insights: 2026-10-03T12:19:53.195Z.
Source publication date: 2026-10-02.
Sources:
2026-10-02 — https://tradingeconomics.com/commodity/copper/news/588994
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来源：Mecuvo upstream research · tradingeconomics.com