Q1 2026 Copper Market Report

The global copper market in Q1 2026 saw significant shifts driven by the EV transition, grid modernization, and supply constraints in major producing regions. Price movements: LME copper averaged $9,200/ton, up 8% YoY. Strong demand from EV battery and wiring. Supply concerns from Chilean and Peruvian mines. Outlook for Q2 2026: We expect continued bullish momentum, with prices testing $9,500-$10,000/ton by mid-year. Inventory levels remain tight, and Chinese stimulus measures are expected to boost industrial demand.