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This is your Copper podcast.
Hey everyone, welcome to another episode of Daily Copper Price Tracker with your host Vanessa Clark. Today, we're diving into the latest on copper prices, market moves, and what it all means for you.
Right now, the spot price for copper is sitting at about 5.48 dollars per pound, down 0.69 percent or 0.038 dollars from yesterday, according to Kitco's live charts. The ask price is 5.51 dollars per pound, with today's range between 5.47 and 5.55 dollars. Over on Comex, front-month futures for April closed the week up 1.73 percent at 5.56 dollars per pound, though it dipped 1.08 percent today, snapping a four-session win streak, as reported by Dow Jones data.
Shanghai spot copper hit 96,953 RMB per ton on April 2, up 1.34 percent from early month levels, per SunSirs, thanks to rebounding downstream demand. But futures there have corrected below 100,000 RMB per ton amid macro headwinds like geopolitical tensions, a stronger dollar, and fading Fed rate cut hopes.
Global supply looks tight for 2026, with ICSG forecasting just 2.3 percent mine production growth to 23.86 million tons, offset by declining ore grades. China's smelters, like Jiangxi and Yunnan Copper, are ramping up output despite cut pledges, hitting new highs in March electrolytic production. Inventories are mixed: LME at eight-year highs around 360,000 tons, SHFE drawing down to 359,100 tons.
Goldman Sachs warns of a correction to 11,000 dollars per ton by year-end after January's record highs near 14,500 dollars per tonne, driven by fading stockpiling from U.S. tariffs. Southern Copper's stock is at 177.83 dollars, up on their 19.9 billion dollar expansion plan.
Key takeaway: Watch inventories and U.S. policy shifts for short-term swings, but long-term demand from AI and energy transition stays strong. Stay tuned for opportunities.
Thanks for joining me on Daily Copper Price Tracker. Subscribe, hit that bell, and tune in next time for more copper updates!
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