“Copper Insight 2026–2027: Structural Bull Run — Global & Thailand Copper Market Outlook, 1 September 2026”: SO OK TRADING

Copper Outlook 2026–2027: Structural Bull Run
Global & Thailand Market Situation — 1 September 2026
✨ Introduction
Copper is rapidly becoming the “heart of the modern economy”, much like oil once was in the industrial age. Driven by surging demand from AI Data Centers, Electric Vehicles (EVs), and Clean Energy Infrastructure, copper has earned the title “The New Oil” of global industry. Meanwhile, supply constraints from major mines in Chile and Indonesia continue to tighten the market, propelling prices toward new record highs.
Global Copper Market Outlook — 1 SEP 2026
Market Status: LME futures hover near record highs at $14,300–$14,500 per tonne (≈ $6.64/lb), with a sharp morning rebound of +$170 per tonne.
Trend: If copper breaks the key resistance at $14,527.50, analysts expect a surge toward $15,000–$15,400 per tonne (≈ THB 500–511/kg) by late 2026 to early 2027.
Support Level: $14,000 per tonne — a psychological floor for bullish momentum.
Key Drivers
Structural Supply Deficit: Global refined copper shortage exceeding 330,000 tonnes.
AI & EV Expansion: Hyperscale data centers alone may consume 475,000 tonnes in 2026.
U.S. Tariff & Stockpiling: Importers rush to secure copper ahead of the 15% tariff.
Speculative Buying: Shanghai (SHFE) and COMEX futures hit new highs, signaling global bullish sentiment.
⚠️ Risk Factors
If stockpiling slows after tariff stabilization, short-term corrections may occur before the next upward leg.
Thailand Copper Market Outlook — 1 SEP 2026
Copper Cathode (Pure Copper): THB 475–482/kg
Scrap Copper (Recycled): THB 415–450/kg (Top grade “Bright Wire” at THB 443/kg)
♻️ Recycling & Domestic Demand
Government and industry initiatives promote recycled copper usage to reduce costs and meet sustainability goals.
Thailand’s copper scrap market is projected to grow 7.6% annually through 2032.
Strong domestic demand from wire, electronics, electrical components, and HVAC manufacturing sectors.
Financial Institutions’ Perspectives
Bull Case: Citigroup and JPMorgan forecast copper to break $14,527 and reach $15,000–$15,500 per tonne (≈ THB 500–511/kg) by early 2027.
Downside Risks: CRU Group warns that excessive COMEX stockpiling could trigger temporary price corrections once buying momentum eases.
Strategic Recommendations
Scrap Dealers: Maintain fast turnover; avoid long-term hoarding to minimize exposure to profit-taking volatility.
Manufacturers & Buyers: Consider hedging contracts to lock in partial costs amid persistent structural shortages.
Summary
Copper has entered a new global supercycle, powered by AI, EV, and renewable energy revolutions. Thailand’s market aligns with this global trend, emphasizing recycling, sustainability, and cost efficiency.
Copper in the AI Era is “The New Oil” — a strategic resource shaping the future of global and Thai industries.
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