Copper recovers after sell-off as inventories rise and stocks steady
LME copper rose 0.8% to $14,190 a ton after a prior-session drop, helped by calmer stock markets and slower inventory build-up, per Reuters.
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what happened
Copper prices rebounded on Friday after a sharp fall in the previous session, Reuters reported, as stock markets steadied and the growth of inventories slowed. Three-month copper on the London Metal Exchange (LME) gained 0.8% to $14,190 a metric ton by 1000 GMT, having dropped 1.9% to a five-week low the day before.
Metals found support as a sell-off in global technology shares eased. That slide had been triggered by worries over the huge funding needs of AI. Ole Hansen, head of commodity strategy at Saxo Bank, said investors were returning to metals after Nasdaq futures bounced. Nickel was the weakest LME metal, down 1.8%, while aluminium, zinc, lead and tin moved in mixed directions.
why it matters
LME copper stocks rose by about a fifth over the past week to 273,750 tons, while warehouse inventories in Shanghai fell 26.5%. The main risk is the large pile of copper in the US, built up on speculation about possible tariffs. Analysts warn of further losses if prices break below the September low of $13,925.
market impact
Copper and copper miners: US stockpiles and tariff expectations keep pressure on the price
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sources
- Copper rebounds as inventories, stock markets stabilise — Reuters, 23 October 2026 at 10:27 UTC
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