Copper Prices Consolidate Near New Highs Amid Strong Global Demand

Copper prices have been on a tear lately, and analysts are looking for the next breakout level. As of today, copper is trading at $6.6128, up 2.22% from yesterday's session and holding near the upper end of its daily range.

The asset remains above its key moving averages, indicating continued strength relative to recent benchmarks.

KGHM Polska Miedz recently reported an 860% increase in first-half 2026 profit, driven by higher copper prices and improved efficiency. Copper accounted for 54% of BHP Group's underlying EBITDA in fiscal 2026 amid strong global demand for the commodity.

Copper is expected to consolidate within the $6.5297 to $6.6959 corridor, with a high probability of further gains should price break above the upper boundary.