Copper pulls back from record highs: $6.58 a pound
Updated August 27, 2026.
VERIFIED Copper trades at $6.58 a pound on August 27, 2026, down 0.30% from the previous session, according to Trading Economics. Over the past month it is up 3.99%, and 47.17% over the past year.
| Period | Change |
|---|---|
| 24 hours | −0.30% |
| 1 month | +3.99% |
| 1 year | +47.17% |
What is behind the move
HYPOTHESIS Per Trading Economics, copper has approached record highs on falling warehouse inventories (down nearly half since mid-May) and supply disruptions — Zijin Mining warned that flooding at the Kamoa-Kakula complex (Democratic Republic of Congo) could cut its production by up to 57,000 tons this year, and Chile also expects lower output. US Section 232 tariffs and China's crackdown on scrap copper have further tightened global supply in 2026. This is the reading circulating this week, not a fact independently verified by this site.
HYPOTHESIS The latest pullback is attributed to a rebound in exchange warehouse stockpiles that has eased immediate shortage concerns, and to a stronger dollar. Analysts cited by the same source expect copper to reach $6.62 by the end of Q3 and $7.20 within 12 months.
What this does not mean
HYPOTHESIS A 0.30% daily dip does not contradict copper remaining near record highs and up nearly 50% over the past year: this is a pause within a strong uptrend, not a sign that the trend has reversed.
Source consulted on August 27, 2026: Trading Economics: Copper.
Educational notice: this article is analysis based on public data, may be wrong, and is not financial advice. It is not a buy or sell recommendation. The decision and the risk are always the reader's own.