Copper Drops Toward 3-Week Low in Commodity News 05/05/2026 Copper futures in the US were below $5.9 per pound on Monday, near their lowest in three weeks, as fresh demand headwinds from the Iran-US conflict momentarily offset the impact of tight supply. Claims that Iran struck US military vessels dimmed the likelihood of energy exports from the region, pressuring base metals as lower purchasing powers and support for the dollar dim the demand for industrial inputs. Still, copper remained around 10% away from its record high as the conflict also dented supply for copper in the near term. Top producer Chile had its supply under threat as the war in the Middle East halted supplies of sulphur to China, driving China to halt the exports of sulphuric acid that are essential half of Chile’s copper refining. On top of that, major tech companies continued to sign agreements that exponentially increase datacenter construction across major manufacturing centers, supporting the outlook for copper due to its utility in electrification and grid technology. Source: Trading Economics 2026-05-05 hellenicshippingnews... tweet Share