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Copper futures settle lower on Wednesday

22 Oct 2026 Evaluate

Copper futures settled lower on Wednesday, as market expectations for proposed US tariffs on refined copper imports faded ahead of the midterm elections. Moreover, a slightly stronger US dollar ahead of next week's highly anticipated monetary policy decisions also dampened copper prices. However, a looming strike at Canada's largest copper mine added another potential disruption to an already tight global market for the red metal. 

Copper futures for December delivery fell $0.024 to settle at $6.5795 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.45% at $14,356 a ton.