Copper futures fell to around $6.60 per pound on Monday, extending their pullback from record highs as weakening economic data from top consumer China dampened the demand outlook. Industrial profits in China rose 15.7% in the first eight months from a year earlier, down from a 17.6% increase in January–July, as soft domestic demand offset strength in high-tech and AI-related manufacturing. On a monthly basis, industrial profits were up just 4.2% year-on-year in August, the slowest pace since November 2025.
The decline comes after copper prices hit fresh record highs last week, driven by supply disruptions and tariff concerns. Operations at BHP’s Escondida copper mine in Chile, the world’s largest, were halted indefinitely following a fatal accident. At the same time, the Trump administration has yet to decide on whether to impose US tariffs on refined copper, keeping markets focused on the potential policy move.
