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Commodity News Details
Base Metals Preview: COMEX copper at two-month high
05-Aug-2026 09:36

COMEX copper futures are looking to breach record high levels supported by strong long-term demand outlook. US copper inflows surge as market awaits Trump tariff call. Traders monitored ballooning volumes held in the US ahead of an expected decision on an import tariff by President Donald Trump. The red metal has rallied about 12% this year after reaching a record high in January. Its performance has been aided by speculation about US trade policy, as well as deep-seated enthusiasm about prospects for global demand driven by the energy transition and the build-out of artificial intelligence infrastructure. Currently, the counter is trading at $6.64 per pound, its highest level in two months.

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