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Copper prices rebound to $6.44 amid tight China supply and await US inflation data for next move.

Market News
09 Nov 2026, 11:44 WIB
FXEmpire
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Neutral
Copper prices rebound to $6.44 amid tight China supply and await US inflation data for next move.

Copper prices rose to around $6.44 due to tight supply in China, where warehouse stocks hit their lowest since January 2024. Local smelter maintenance limited refined copper availability, pushing buyers to imports despite record-high premiums. The US dollar's recent strength pressured copper prices, but a slight easing supported a rebound. The market now focuses on upcoming US inflation data, which could influence the US dollar and copper prices; hot inflation may strengthen the dollar and weigh on copper, while soft readings could boost copper by weakening the dollar. Technical analysis shows copper must break above $6.64 to continue rising, with strong support near $6. A drop below $6 could lead to further declines toward $5.20, but the long-term trend remains bullish due to demand from sectors like AI construction.

Copper price developments provide context for readers, with Pluang market data showing 107 of 150 US stocks rose while 39 fell as of Nov 09, 2026 14:11 WIB. Devon Energy Corp (DVN) traded at USD 42.67, down 3.29% in one day. IQIYI Inc (IQ) and Coinbase Global (COIN) also declined by 3.11% and 3.10%, respectively, with typical hold times on Pluang of 57 and 80 days.

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