Copper (XCU) prices recovered toward $6.50 after finding support near $6.36, but the outlook remains uncertain in the short term. The strong factory activity in China and rising demand from AI and power grids support the market. But the weak Chinese investment, higher LME inventories and strong U.S. dollar may limit the recovery. In my view, the reaction around the $6 and $7 levels will determine the next major move. This article presents the key macro drivers, technical levels and trends that may shape the next move in copper.
Copper Price Forecast: China Data Support Recovery Near $6.50
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Key Points:
- Stronger Chinese factory activity supports copper demand, but weak investment limits the rebound.
- Copper remains under pressure below the 50-day SMA near $6.55.
- A break outside the $6–$7 range may define the next major move.
