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Copper futures settle higher as Cochilco raises price forecasts to record highs

20 Nov 2025 Evaluate
Copper futures settled higher on Wednesday after Chile's state copper commission Cochilco raised its copper price forecasts for 2025 and 2026 to record highs. The commission also expects copper prices to maintain an upward trend at least until 2030, driven by a global copper supply deficit and growing demand from sources like the energy transition. Although, some gains were limited by strong dollar overseas after hawkish minutes of the October 28-29 FOMC meeting diminished the chance of a rate cut in December.

Copper futures for December delivery rose $0.0445 to settle at $5.0185 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.31% at $10,752.50 a ton.

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