Copper futures surged on Friday on bets of tighter global supplies in 2026, while a recent slump in the American currency with expectations of further Fed rate cuts next year also supported copper prices to some extent. Moreover, long-term structural demand for copper remains robust, spurred by the growth of electric vehicles, renewable energy projects, power grid expansion, and artificial intelligence infrastructure. The US markets remained closed on Thursday in observance of Christmas Day.
Copper futures for March delivery jumped $0.1550 or 2.78% at $5.73 a pound on the Comex metals division of New York Mercantile Exchange.