Copper Prices Slide Amid AI Data Center Demand Slowdown
Copper futures dropped nearly 4% as record AI-driven data center demand cooled and tariff uncertainty took its toll. The price decline was supported by short-term selling pressure, with copper trading below its 20-day moving average but still above medium- and long-term trend levels.
The recent drop in copper prices comes after a record-setting surge driven by surging demand for AI data centers and delayed U.S. tariff action. Global supply constraints persisted, with U.S. copper imports rising to a record and Chinese imports falling to 382,000 tonnes in August 2026.
Despite the short-term selling pressure, analysts note that the medium- to long-term trend for copper remains bullish. The current technical setup suggests that copper may consolidate between $6.2655 and $6.7215 over the next five trading days.