“Global Copper Market Pulse – October 2026 | SO OK TRADING Insight: FAST • SHARP • RELIABLE”
Copper: Amid Future Demand and Tight Supply (October 2026)
Analysis of Copper Usage and Price Trends – 8 OCT 2026
✨ Introduction
Copper is increasingly recognized as the “metal of the future”, playing a vital role in driving the modern global economy. From AI Data Centers, Renewable Energy Infrastructure, to Electric Vehicles (EVs), copper is indispensable. At the same time, the market faces tight supply conditions from mines and smelters worldwide, pushing prices upward and positioning copper as a strategic asset of the decade, according to leading global financial institutions.
Current Market Situation
COMEX Futures: $6.68 – $6.70/lb (+1.22% – 1.55%)
LME Cash Settlement: $14,450 – $14,510/ton
Scrap Copper (US): Bare Bright $4.89 – $5.35/lb ($10,780 – $11,790/ton)
Thailand Market
Refined Copper (Bare Bright): ฿310 – 330/kg
Heavy Copper: ฿290 – 305/kg
Brass/Impure Copper: ฿260 – 280/kg
Price Drivers
Rising demand from AI, EVs, and renewable energy
Mine disruptions in Chile and Peru, plus Chinese consolidation
Speculative activity in the LME
⚠️ Risks
Strong US Dollar and high inflation
China’s Golden Week holiday reducing Asian trading volumes
Uncertainty over US tariff policies
Outlook and Market Direction
Global
Price Forecasts
Citigroup: $14,500 – $15,000/ton
Goldman Sachs: $13,735/ton (End of 2026)
Deutsche Bank: Up to $22,050/ton (Q2 2027)
Demand Drivers
AI Data Centers → High-purity copper in PCBs and cooling systems
Electrification & Grid Expansion → IEA projects copper demand for power grids rising from 5M tons → 7.5M tons
EV Infrastructure → Charging stations and drive systems continuously absorb copper cathodes
Supply Constraints
TC/RCs negative → Smelters cutting output
China stockpiling 2.05M tons of copper reserves
LME inventories down >32%
Thailand
Nearly 100% dependent on copper cathode imports (Taiwan, Malaysia, Myanmar)
Key industries: wire & cable, electronics, EV manufacturing
Challenges: rising Chinese premiums, stricter environmental regulations
Trend: increased recycling of high-quality scrap to reduce carbon footprint
Assessment
Copper is firmly in a long-term Structural Bull Market, supported by strong structural demand and constrained global supply. While short-term corrections may occur due to currency strength or holiday-driven volume drops, the overall trajectory remains structurally upward.
Conclusion
Copper is no longer just an industrial metal—it is the “metal of the future”, central to the green economy and digital transformation. For Thailand, reliance on imports highlights the need for strategic recycling and cost management. Globally, copper’s role as a strategic asset will only intensify, making it indispensable for industries and investors alike.
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