COMMODITY
Copper futures settle higher on tightening physical conditions in China
Jul-22-2026
Copper futures settled higher on Tuesday amid tightening physical conditions in top consumer China and as traders rebuilt bets that the United States will impose a tariff on refined metal. Furthermore, prices received an additional boost from a powerful winter storm system has caused significant weather-related disruptions across the center-south and north-central regions of Chile, the world's top copper producer. Moreover, China’s premium for imported copper climbed to $100 per tonne, the highest level since May last year, as Beijing’s crackdown on VAT fraud reduced scrap availability and boosted demand for refined copper imports. 

Copper futures for September delivery gained $0.2115 to settle at $6.5525 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.93% at $13,885 a ton.

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