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Copper futures settle lower on Friday

01 Aug 2026 Evaluate
Copper futures settled lower on Friday as Middle East tensions and fading faith in Federal Reserve Chairman Kevin Warsh’s commitment to curb inflation drove US bond yields upward. Copper prices weakened further due to expectations of tighter monetary policy, with markets pricing in about a 65% chance of a Fed rate hike in September. However, global investment in artificial intelligence infrastructure crossed $1 trillion mark, a year ahead of projections, fuelling an unprecedented demand surge for copper as a critical physical layer for power generation, grid transmission, and hyperscale data center buildouts.

Copper futures for September delivery fell $0.009 to settle at $6.4655 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.09% at $13,791 a ton.

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