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Copper futures settle higher on Wednesday

21 May 2026 Evaluate
Copper futures settled higher on Wednesday following investor optimism around a potential resolution to the Middle East conflicts. While supply tightens, demand is accelerating from multiple long-term growth sectors, most notably AI data centers, power grid modernization, electric vehicles (EVs), renewable energy infrastructure, and defense manufacturing. Although, some gains were limited by minutes from the April 28-29 FOMC meeting, which revealed a surprisingly hawkish tone. The minutes signalled that if inflation stays persistently above the 2% target, a majority of policymakers believe additional rate hikes will be appropriate. 

Copper futures for July delivery rose $0.124 to settle at $6.3305 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.82% at $13,655.50 a ton.

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