The price of Copper briefly went above $11,000 per ton, but recent supply changes and economic reports have affected its price trends. Weak economic signals from China and the reopening of Indonesia’s Grasberg mine have both impacted Copper prices. While China’s industrial production has increased compared to last year, growth is slowing down. This slowdown includes a drop in metal production, which typically supports higher Copper prices. Domestic demand for Copper is weak, especially from China’s struggling real estate market, which dampens the outlook for demand. As production remains high and domestic consumption is low, China is likely to ramp up its metal exports. Reports indicate that Copper exports in October surpassed 100,000 tons, potentially breaking an annual record. Both local and global factors, including high LME Copper prices, are boosting exports. Although China’s inventory levels have slightly risen this month, the overall trend suggests a possible drop in Copper prices. The information comes from a collection of market insights and analyses by well-known industry experts. The recent rise in Copper seems to be losing momentum after failing to maintain the $11,000 per ton mark. Fundamental reasons indicate a price correction may be on the way. Traders should be careful with long positions, as the market dynamics are clearly changing. The main worry is the decline in demand from China, supported by the latest economic data. The preliminary Manufacturing PMI for November shows a reading of 49.7, indicating a contraction and a slowdown in factory activity. This new drop in the real estate market further complicates the outlook for industrial metal use. At the same time, China’s strong metal production is creating a surplus that is affecting global markets. Reports reveal that Copper exports from China reached over 110,000 tons in October 2025. This trend is likely to continue as high LME prices encourage sales abroad. On the global supply side, the partial reopening of the Grasberg mine adds to the bearish outlook. This is already reflected in LME inventory data, showing a net increase for the third week in a row, bringing total stocks to their highest level in seven months. Historically, such inventory builds have preceded price drops, as seen in 2023. Considering these challenges, it’s wise to prepare for a possible drop in prices. Setting up short positions through futures or buying put options could be a good strategy to benefit from the expected weakness. The inability to keep prices above the key $11,000 mark should be viewed as a significant technical warning.

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